I haven't come up with any serious objections so far.

The proposal seems narrowly focused on gun owners having to get liability insurance. Under the existing system, gun manufacturers have gotten a lot of protection from liability through their Congressional whores, but I'd like to see that removed to level the playing field, so that injured parties are able to come after both the gun owner and the manufacturer of the gun used in the offense. The manufacturers need their feet held to the fire, too, to ensure their good behavior in areas like safety features, and to stop playing the game of evading every restriction with weasel-wording and clever designs.

What could go wrong turning the problem over to private industry?