Mr. Zubrow added that "artificially capping liabilities" of banks would hinder their ability to make loans or invest in government bonds.
Insurers are moving to protect themselves by capping liabilities for mold removal, especially in Texas, where there's a confluence of high humidity and wacky judges.
Bair suggested creating a foreclosure disaster fund akin to the BP oil spill fund that would compensate wronged homeowners and investors, while capping liabilities for big banks.
The commission hopes that its recommendations, which apply in the first instance to England but which could also be picked by the Welsh government in a forthcoming social services bill, would spark the insurance sector to offer policies that people could take out to cover their capped liability.
This bedrock principle of the transaction is reflected in all of the critical agreements and documents, Cerberus said, and would cap liability for any claims under the agreement at $100 million.
They should be accountable for all cleanup costs, and they should be liable for all damages to persons, properties and livelihoods that stem from the spill (even though Congress foolishly capped liability for such damages to only $75 million).
In fact, the vast majority of states believe it's wrong to cap liability for manufacturers of unsafe drugs and medical devices.
For example, while the proposal aims to cap liabilities, it doesn't spell out what, if anything, it will do about banks' control over other areas of the market.
Home inspectors seek to limit their exposure by capping their liability.
The remedies include protecting corporations from criminal and civil cases, imposing new restrictions on shareholder lawsuits, and capping the liability of accounting firms.
