I'm not sure if this is available everywhere, but in California you can put up a bond in lieu of insurance with the DMV, either with your own money or with a surety bond company.
So you can do it, they just require proof in the form of the bond that the money is available when needed. They won't just take your word for it. They might take the word of a company with a $1.3 trillion market cap, which is probably a bad idea. You get hit with one of these fuckers and instead of the admittedly shitty but known process of dealing with an insurance company, now you have to deal with a huge company that doesn't want to admit their dumb camera only system is at fault.