Why not? At first glance it seems like a good idea. But first ask yourself why the Steamboat Inspection Service no longer exists. Read up on its history, and why its duties eventually got folded into the USCG a long time ago.
The SIS became a corrupt and ineffective safety agency. The inspectors were prone to accepting bribes and looking the other way, or were incompetent, or both.
How do we know this? Because the investigation of the horrific loss of life (over 1,000 men, women & children) when the General Slocum burned in the East River revealed the awful truth.
Switching agencies alone, or creating a new one, won’t necessarily do anything to fix this problem of human nature. The institutional rot runs deep today as it did then. A real culture change would need to take place, and be maintained against enormous pressure. Historically, that’s a bad bet. That’s not to say that it isn’t worth a try, though.
Read the story and draw your own conclusions.