The Slovenia Insurance Supervision Agency published a write-up of its director Gorazd Čibej’s participation in a Zagreb business forum on navigating polycrisis and demographic challenges, where he highlighted the impact of new EU regulatory approaches on business and innovation. Čibej argued that overly burdensome or unjustified regulation can hinder development and entrepreneurial innovation, noting that around 21,000 regulations are currently in force in Slovenia and that the resulting compliance burden is difficult to follow. He added that requirements that are too strict or do not keep pace with technological change can constrain adoption of technologies such as artificial intelligence and blockchain, and framed insurance market regulators’ role as balancing stability with innovation while supporting sustainable practices and technological solutions to help insurers better protect consumers and the economy.
Slovenia Insurance Supervision Agency 2025-01-30
Slovenia Insurance Supervision Agency warns excessive regulation can stifle innovation and cites 21,000 rules in Slovenia
The Slovenia Insurance Supervision Agency reported on Director Gorazd Čibej's participation in a Zagreb forum, emphasizing the impact of EU regulatory approaches on business and innovation. Čibej highlighted that excessive regulation, with around 21,000 rules in Slovenia, can stifle development and technological adoption. He advocated for a regulatory balance that supports innovation and sustainable practices in the insurance market.