In this article, we evaluate factors that help to explain an important source of variation in insurers' rate filing experiences across states and over time for personal automobile insurance. Using a new source of data from personal auto insurance rate filings for all U.S. insurers, we examine factors associated with regulatory lag. The timeliness of the disposition of insurers' rate filings is important, as significant delays can undermine the usefulness of the actuarial analysis required for justifying rate changes and may result in rate inadequacy pending the approval of rate increases. While there is a considerable literature on the effect of rate regulation regimes on insurance market outcomes, this is the first article that evaluates factors associated with regulatory lag. We use a principal components approach to explore the relative influence of various factors on the timeliness of filing approval. These factors are associated with (1) industry interest, resources, and influence, (2) demand conditions, complexity, and saliency, (3) the goals of political elites, and (4) the goals and resources of regulators as important drivers of insurers' rate filing experience. We find that state rate filing statutes account for some of the variation in regulatory lag and identify other significant factors that explain the variation in the timeliness of rate approvals across states and over time.

在本文中，我们评估了一些因素，这些因素有助于解释保险公司在各州和不同时间段内个人汽车保险费率申报经验变化的重要来源。我们利用来自所有美国保险公司个人汽车保险费率备案的新数据源，研究了与监管滞后相关的因素。及时处理保险公司的费率申请非常重要，因为严重的延误可能会损害证明费率变化合理性所需的精算分析的有效性，并可能导致在费率上调批准之前出现费率不足的情况。尽管有大量关于费率监管制度对保险市场结果的影响的文献，但这是第一篇评估与监管滞后相关因素的文章。我们采用主成分法来探讨各种因素对备案审批及时性的相对影响。这些因素与（1）行业利益、资源和影响力相关，（2）需求条件、复杂性和显着性，（3）政治精英的目标，以及（4）监管机构的目标和资源作为重要驱动因素。保险公司的费率申报经验。我们发现，各州的利率备案法规解释了监管滞后的一些变化，并确定了其他重要因素，这些因素可以解释各州之间以及随着时间的推移利率批准及时性的变化。(3) 政治精英的目标，以及 (4) 监管机构的目标和资源是保险公司费率申报经验的重要驱动因素。我们发现，各州的利率备案法规解释了监管滞后的一些变化，并确定了其他重要因素，这些因素可以解释各州之间以及随着时间的推移利率批准及时性的变化。(3) 政治精英的目标，以及 (4) 监管机构的目标和资源是保险公司费率申报经验的重要驱动因素。我们发现，各州的利率备案法规解释了监管滞后的一些变化，并确定了其他重要因素，这些因素可以解释各州之间以及随着时间的推移利率批准及时性的变化。