We already do have that. If your flight is canceled, you can be reimbursed. This doesn't matter because they don't have to pay it unless you sue them for it and

We already do have that. If your flight is canceled, you can be reimbursed. This doesn't matter because they don't have to pay it unless you sue them for it and get a judgement allowing you to seize it. Airlines do this and far worse. Law is and always has been a recommendation, the actual powers at play have to be involved for anything to be done.