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18.9 mn salaried people lost jobs since April, 5 mn in July, says CMIE

The loss of around 5 million jobs in July comes after around 3.9 million jobs were gained in June, as per the data. In April, 17.7 million salaried jobs were lost, followed by 100,000 job losses of salaried employees in May.

“While salaried jobs are not lost easily, once lost, they are also far more difficult to retrieve. Therefore, their ballooning numbers are a source of worry,” the centre’s CEO Mahesh Vyas said.

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Aon launches its virtual reinsurance renewal season

Andy Marcell, CEO of Aon’s Reinsurance Solutions business, said: “In an uncertain global economy, one thing is clear – reinsurance has never been more important as a strategic tool for client success. We are committed to collaborating with insurers and markets towards the 1st January renewals to help clients protect people and assets, strengthen their balance sheets and make better business decisions that reduce volatility.”

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Retail to insurance: Amazon, Ambani’s Jio prep for ‘one fierce battle’

The US giant is fanning out at a pace not seen elsewhere in the world. Amazon is now delivering prescription and over-the-counter medicines and herbal remedies in Bangalore. It started last month selling car and motorbike insurance–a first for the Seattle-based online giant–claiming to finalise policies in under two minutes without paperwork.
“This is going to be one fierce battle,” said Satish Meena, senior forecast analyst at Forrester Research Inc. “Amazon and Reliance want to meet a person’s every need from online retail to financial services to entertainment. It’s a fight for the household’s spending.”

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On Facebook, health-misinformation ‘superspreaders’ rack up billions of views: report

Facebook’s algorithm is a major threat to public health. Mark Zuckerberg promised to provide reliable information during the pandemic, but his algorithm is sabotaging those efforts by driving many of Facebook’s 2.7 billion users to health misinformation-spreading networks,” said Fadi Quran, campaign director at Avaaz.

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Taiwan to further free up economy, aiming to become Asian financial hub

Instability in Chinese-ruled Hong Kong, especially after Beijing enacted a new national security law there, has called into question how long the city can remain Asia’s dominant financial centre.

While Taiwan is unlikely to supplant Hong Kong immediately, the government does hope to seize the opportunity to attract professionals and capital from the city.

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General insurers sell 7,50,000 Covid-19 policies covering 1.28 mn lives, earn a premium of Rs 215 crore:Alamelu

“96 percent of the population don’t have any kind of health cover against Covid -19 . During this time also a small out of pocket expense in hospitals can financially impact the customer. There is a need to reduce this gap,Today, health has become the biggest line of business under the general insurance category and by the year end, it will overtake motor insurance also” TL Alamelu,member, Non-Life, IRDAI, said.

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