Chapter 9
The case for change

Other Sectors

9.21We also note that there are other reforms that could limit liability in certain sectors, such as the caps imposed for the finance and audit sectors in Australia. These industry schemes are arguably of more significance than the change in the liability regime, since they provide certainty on the total amount at risk. Such certainty is of considerable importance to insurers, and therefore to the insured, in determining the level of premiums.