I would think that tort law already achieves this - unless some law was passed that shields manufacturers from lawsuits. If that's the case, then the easy fix is removal of such shields instead of trying to create new regulations. Same applies to nearly all aspects of product liability.
The general rule in tort is that you need physical injury or physical destruction of property to sustain a lawsuit. There's exceptions at the edges of that, but you basically can't sue a device manufacturer for crummy security that caused you to lose money or other non-physical damages like reputational harm. The same limitation does not apply to contract law. We think that a cybersecurity label could be enforceable under contract law, as well as help bolster claims that a duty was breached in tort (when there is physical injury/damage). It would also be subject to FCC enforcement, for failing to live up to the commitments made to get the label.
I would expect some sort of license "agreement" that shields the manufacturer and resellers from all liability.
Not too many industries have such a shield. The nuclear industry comes to mind as an example of one that does.