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"The lesson here," said John Tiene, the president of the Insurance Council of New Jersey, "is that New Jersey has a very restrictive regulatory structure which places extraordinary power in the hands of regulators to essentially manage the businesses they are regulating".
Regulators must understand the business and technology they are regulating.
They are government regulators who are paid far less than the bankers they are regulating.
Policymakers, meanwhile, have often been more interested in costly turf wars than understanding precisely what they are regulating.
They are regulating hydraulic fracturing effectively and continue to get better by working with public and private agencies.
"They are regulating about 80% of the profit of the group already, they are quite capable of regulating the group," he said.
Similar(43)
They are regulated as insurance, but they are not subject to Obamacare regulations.
The costs vary because they are regulated by individual states.
They're also unregulated in adult products, although they are regulated in several children's products.
The knowledge that they are regulated in part by genes is unsettling and unwelcome.
If so, they are regulated by the Charity Commission, who deal with complaints against UK-registered NGOs.
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