They'd be much better off introducing a compulsory cycling standards test and licensing system, so that a) fuckwits who jump red lights can be caught, and b) it becomes safer for other road users, knowing that they are less likely to have some idiot on a bike cut them up and put them at risk of damaging their vehicle when they hit the bike, or another car hits them because of the evasive action they had to.
How do you sue a cyclist that causes you to have an accident when you can't identify them, and they have no insurance to claim on?