essentially privatising the FAA and NTSB, although the NTSB already seems to do really good work and it’s unlikely quality would improve with privatisation.
Though really, I wanted to use aircraft to talk about building safety. The field of aircraft is already pretty safe in general.
What I’m thinking with this building materials issue is that in addition to the Executive Todd Problem being worse (because the real estate will change hands more often than the aircraft and the builders will too), and there being no insurance requirement, a lot of problems (like asbestos, or that cladding) were either known beforehand, or would not have been that difficult to figure out if someone had bothered to check first.
Additionally, the insurance company, the builder, or the owner would be losing money for every month that problem was not repaired. So instead of fighting a long legal battle and not fixing it, it’s more likely at least one of them would fix it now, then have the long legal battle about who finally gets compensated.
That would be the plan, anyway. I have other insurance-based plans to distort the markets as well.