How about we just stick to what we have (freedom of contract) and solve disputes according to the terms and conditions we agreed on, maybe with some PR gestures on top.
Imagine a world where Saas vendors would be liable for economic loss their software bugs generated. You'd have to fill in a huge questionnaire to sign up and everybody would be paying a tailored, very high price to cover all the risks. Every software vendor would be in the insurance business.
As someone once putted, "the software industry is like buying shoes that explode when you try them on".
We only get away with things like outsourcing, low quality work full of bugs, side jumpers into the industry, weekend developers, because no one is held accountable for software bugs and their consequences.
The only place people seem to care is when people life's are at risk, and even then we know how Therac-25 went out.
Imagine a world where Saas vendors would be liable for economic loss their software bugs generated. You'd have to fill in a huge questionnaire to sign up and everybody would be paying a tailored, very high price to cover all the risks. Every software vendor would be in the insurance business.