Car nanochips for accidents, good idea?

So I have this little idea, just a concept really...

Within the OBD computer system of a vehicle, plan a nanochip programmed with the "identity" of the vehicle (make, model, plate #, owner, insurance policy, etc.) now of course this will only really work for newer cars, but most people don't drive cars without OBD systems anymore...

Tune the OBD system to be impact sensitive (I don't know the finer intricacies of how this would work, but I would guess electronic sensors within the car would help, I don't know how OBD car computers really work), so when two cars his eachother, the OBD nanochips activate and exchange information instantaniously.

This is meant to deal with the problem of hit and runs (vehicle to vehicle of course). I'm sure insurance companies would be willing to pay most or all of an OBD computer upgrade if it means that they can just sue another insurance company for hit and run damages instead of having to pay out themselves (assuming the driver has full coverage).

It's a very rough draft concept, but how does it sound?