Not really, or not enough at least. Drivers can and do cause horrific accidents because of inattention, bad judgement, intoxication, and road rage. There aren't enough penalties and, it seems, the situation has been getting worse and more chaotic lately, at least where I live in the Northeastern US.
This is a short list of a few common get out of jail free cards for traffic violence:
1. I couldn't see them
2. The sun was in my eyes
3. I had a medical emergency
4. The car was in my blind spot
5. They came out of nowhere
6. My car lost control
7. My brakes didn't work
The Dutch have a bicycle culture and bicycle friendly streets where cars are outnumbered and don't despise cyclists in the manner of Sydney, Australia or Mean City, USA.
The Dutch also live in a flat country and don't extreme cycle down the side of Big Sur, etc either.