True, but then companies are only accountable to their shareholders in many cases, and spend money on lobbyists to keep things that way. Economic models can vary widely depending on whether they're based around mutuality or extraction of rents.

> mutuality or extraction of rents.

bigger governments create more rent opportunities.

https://www.libertarianism.org/blog/introduction-rent-seekin...

> A key difference in this bureaucracy is their speed of change. Companies can react rapidly to new technology, new scenarios, and they do so on an economic model.

Additionally- companies can react intentionally slowly to squander and choke new technologies and scenarios, also doing so on an economic model.

But companies have competitors. If one insurance company requires an unnecessarily burdensome design (or charges unreasonable premiums without it) while another allows a more efficient design which is equally safe, customers will prefer the latter and the former will adapt or lose business.

If the government requires an unnecessarily burdensome design, you're screwed.

> squander and choke new technologies and scenarios, also doing so on an economic model.

If they do so then said technologies were not real opportunities. If they're opportunities then competitors will generate more value and/or less cost.