Cycle insurance

I would be interested to know what other cyclists feel about the latest news that a cyclist has been successfully sued, by a pedestrian, who stepped into the road engrossed in her mobile phone and hit by the aforementioned man who tried to avoid her. Both parties injured but not seriously.He is facing £100000 compensation and legal costs and apparently this will ruin him financially. Importantly this has created a legal precedent which must affect us all.

There is a crowd funding initiative to help him.