I doubt I would want blanket liability limits, just limits in some key areas. I think some other changes might be necessary in the way our courts operate and what cases are allowed to proceed. If someone is truly at fault, I have no problem with that costing them, but when someone sues because the business didn't post a warning sign/label or something, the courts and or juries really should be throwing those cases out with prejudice. I don't know if that requries changes in people's thinking or actual changes in law.
A loser-pays system might help, but I am not fully certain that would be the best solution. I was also thinking we should get rid of the system that finds someone XX% at fault and splits the judgement. I have never really liked that concept. I think it encourages juries to find defendants at fault.