Limitation of Liability is not a sure thing. In fact, courts have become quite stingy about allowing limitation of liability. (Just ask Exxon).
This is already baked into insurance costs.
The proposed changes to the Limitation of Liability Act would probably have little effect on insurance rates.
The provision limiting liability for American ships, but imposing liability on foreign ships is probably unconstitutional. It may also violate international treaties.
A better approach might be to set up a superfund for US flag ships.
After the Exxon Valdez oil spill, OPA, the Oil Pollution Act of 1990, imposes liability on the beneficial owners of the ships and cargo owners (oil companies, oil traders, and large oil consumers with deep pockets). This was done because it was recognized that shipowning and operating shell corporations and their insurers) did not have deep enough pockets to pay for the damages caused by oil spills. OPA has a superfund. OPA applies to ships of every flag.
OPA could be amended to apply to all cargoes, and all types of damages caused by all ships. Or a new statute could be adopted that is similar to OPA.
OPA itself is based on CERCLA (the Superfund law).
US CERCLA claims forced Lloyd’s of London into insolvency, and it bankrupted many of the “Names” (ordinary investors, including small investors) at Lloyds. The “Names” underwrite tiny fractions of risk on insurance policies, but face unlimited personal liability.