My suggestion is pretty simple: add softcore and hardcore
Currently, the only game mode is mediumcode (drop all your stuff when you die; run back to your corpse to reclaim it)
I personally have always preferred softcore or hardcore to this game mode.
Softcore is pretty obvious. When you die, just teleport back to your home system (with all your stuff) and maybe you lose some money or something (you could keep the insurance mechanic this way)
Everyone knows hardcore; when you die, your file is deleted. Nothing to be saved.
Also, this seems like it'd be a pretty easy one to implement.