Nearly 22 years ago an RPT Chieftain flew through the trees and impacted the ground on a dark and stormy night, whilst on approach into Young in central west NSW.
As a result of the Coronial inquest the insurance underwriters of the then Civil Aviation Authority (CAA), Lloyds of London, determined that an ex- gratis payment of no less than $20 million be paid to the families of the 5 passengers killed in the accident. These payments were on the condition that the families of the victims sought no action against the CAA for its role in the oversight of the airline. Lloyds then "Wiped" the Australian regulator!
The Government changed the name of the regulator, liquidated the FOI, and then sought indemnity elsewhere. Nothing much else changed.
I wonder what the current insurance underwriters feel about the lessons of history?