The Search for the Rate Filing Fast Lane The article discusses delays in insurance rate filings, which have worsened due to increased inflation, staffing shortages, and the complexity of filings. Experts suggest that the volume of filings has surged as inflation impacts pricing, leading to slower approval processes. Regulatory experts emphasize the importance of thorough and well-prepared submissions to avoid delays, as incomplete or inconsistent filings often require multiple rounds of revisions. Technological innovations, such as machine learning, are being explored to streamline the review process. Despite challenges, collaboration between regulators and insurers is critical to managing these delays efficiently.
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