As your notoriety goes up, I feel like your bounty per murder should be going up by a percentage of the destruction you've caused - ship and cargo included. I've always wondered how the heck the pilot's federation can stay afloat with this 95% insurance for ships, and this could be a good direction to justify it.
You see that's how insurance works, most of us don't go around destroying out ships every day, and the money we pay covers the accidents, homicidal players or the just plain negligent player who can't be bothered to watch their radar for other ships.