Bloody good fun at first. Maybe suicide later
My experience suggests that 10hp is all that is needed to explore the limits of a 2.7m SIB (one up). With more weight O/B, a bit of extra power would be nice. The question is, will your transom take the strain? If you pour on the sauce carefully, maybe...
FWIW, I'm seeing over 18kts with my rig, and TBH, the boat feels fine and is controllable, but the water needs to be mirror calm. I would suggest that 15-16kts is the practical max for this type of rig.
I'll let someone else warn you about insurance