Insurance

The least expensive five states have an average annual insurance premium for 16- to 19-year-old teenagers of $992.

The rules would make it harder for insurers to skirt a federal law that requires them to offer the same type of coverage for mental-health issues as for physical ones.

In other news: Nationwide launches digital platform Pet HealthZone and Bain Capital Insurance closes its 1.15B inaugural private equity fund.

As of March 27, 2023, the top five insurance companies had an average workers' comp market share of 5.55% and a combined marketshare of 27.76%.

Consumers preferred to share data using smart devices in the home: 45% said they are happy to share information via Amazon Alexa, Google Home and the like. A little over a third of consumers (36%) said they were willing to share data through wearables or fitness health tests.

The US Department of Labor has until December to tell Congress whether to update a policy advising pension plans to choose the "safest" option when transferring obligations — unless doing otherwise would be in the interest of participants.

Life insurers are among Japan's biggest institutional investors, with a combined portfolio of about 380 trillion yen ($2.7 trillion), according to the association.

In other news: Embroker names new CEO and Swiss Re announced global head of property and casualty solutions.

Coterie Insurance, a small business insurance underwriter, is seeking to expand its ability to provide instant quotes and coverage with AI-powered data technology.

The move comes as incumbent truckmakers face the task of developing battery trucks that require fast-charging points with energy needs akin to small towns, and complex fuel-cell technology.