[rawgabbit]

The problem with "costs" is that when companies are finally faced with steep fines or lose a lawsuit, they would often declare bankruptcy or a spin-off a division and dump all the obligations to the spun-off company which would go bankrupt. The only thing that works, I believe, is the threat of criminal penalties with actual jail time.

[pfdietz]

That's a good point, so laws requiring bonds or insurance would also be needed. This could be an incentive towards at least limiting the worst case outcomes; if those are too large insurance may not be available.