Unregulated

{
  "id": "MLC-T-INS-003441",
  "term": "Unregulated",
  "field": "Insurance and risk management",
  "definition": "Describing an activity, industry, or entity that is not subject to formal governmental oversight, rules, or laws. In insurance, certain niche products or emerging markets may initially operate without specific regulatory frameworks. This can lead to greater innovation but also potentially higher risks for consumers and market instability.",
  "url": "https://mlchart.com/terminology/insurance/unregulated/"
}