Peer pressure as a checks and balance for regulation
How exactly does peer pressure of taking action against any insurer act as a check and balance for regulators? I don't quite get the description in the wiki.
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How exactly does peer pressure of taking action against any insurer act as a check and balance for regulators? I don't quite get the description in the wiki.
Comments
When one state investigates an insurer, other states are peer-pressured to investigate that insurer as well, if it operates in their state. Multiple eyes on the same insurer helps with checks and balances.