regulatory sandbox

Known as a “regulatory sandbox,” this new legal option allows business owners to seek shelter under a one-year program (with a one-year extension option), which would suspend a law or regulation that stands in their way, while regulators closely monitor the business to ensure everything remains safe.
As applied to legal systems, a regulatory sandbox is an approach where a company can offer its products and services under the suspension of a particular law or regulation that might have otherwise inhibited it — and the concept is catching on in America.
This was only possible because the Utah Supreme Court approved and created the country's first legal services sandbox. The goal of the sandbox program is to get companies like Law on Call to find new and innovative ways to deliver legal services to low-income Utahns who do not have the means to afford a lawyer.
Where many states have created legal complications for companies wanting to serve their customers, Utah is providing them the option to hit the 'pause' button on any law or regulation that stands in their way.
The insurance industry is often bloated with extreme barriers for entry but is ripe for innovation. Rather than shutting down innovative companies or preventing creative products from ever making it onto the market, the insurance sandbox proposed in Senate Bill 55 will present companies with an opportunity to offer their unique goods and services in the marketplace that otherwise wouldn’t be allowed under the current regulations in place.
As the state looks to recover from the pandemic, it needs to do everything in its power to position businesses to get back on their feet and be successful moving forward. Regulatory reform can offer a promising avenue to explore, as regulations impose numerous costs to both businesses and consumers alike.

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