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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.”
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.
India’s COVID-19 tally crosses 27-lakh mark,death toll climbes to 51,797
the death toll climbed to 51,797 with 876 people succumbing to the disease in a span of 24 hours
There are 6,73,166 active cases of coronavirus infection in the country which is 24.91 per cent of the total caseload, while the number of recoveries has risen to 19,77,779.
Of the 876 fresh deaths reported, 228 are from Maharashtra, 120 from Tamil Nadu, 115 from Karnataka, 82 from Andhra Pradesh, 66 from Uttar Pradesh, 45 from West Bengal, 51 from Punjab, 23 from Madhya Pradesh, 18 from Delhi, 15 from Gujarat, 13 from Kerala, 12 from Haryana, 11 from Rajasthan and 10 from Odisha
Madrass HC refuses to allow reopening of Vedanta’s copper smelter
Sterlite copper smelting plant was shut it 2018 due to environmental concerns. The state government subsequently issued a closure order on May 28, 2018, against the plant, days after a protest against Sterlite ended violently with police opening fire on protesters, killing 13 people.
Indian government keen to speed up stake sale in four banks
India currently has a dozen public sector banks in addition to IDBI, in which the government owns 47.11% while the state-owned insurance behemoth Life Insurance Corp owns a 51% stake.
COVID-19: SC refuses to direct transfer of contributions made to PM CARES to NDRF
The apex court said the National Disaster Management Plan prepared by the Centre deals with all aspects of the Biological and Public Health Emergencies in systematic and planned manner and thus there is no need of separate plan to deal with COVID-19 pandemic.
The bench said the National Disaster Management Authority was well aware of the epidemics and had issued guidelines in the year 2008 itself which has been further detailed in Plan-2019.
Alamelu Panel favours setting up of a Loss Prevention body for the general insurance industry, will aid reduction of premiums
The panel has suggested that the proposed company should be promoted by the IRDAI as well as the industry.
The company may start working on promoting safety and loss prevention in the areas of Property Insurance and motor Insurance to begin with and can expand into all areas of general insurance as well as health insurance in the future.
`The existing loss control practices of the insurers are incidental to the primary function of underwriting. Needless to state reducing the frequency and severity of losses would benefit both insurers and insureds, as the overall burning cost and consequently the premium rate would come down;,said the report prepared by the working group..
Some Delhi hospitals seeing COVID re-emergence in recovered patients
“There can be a relapse. The virus can be isolated from the body particularly from the sputum. We have the evidence that after ninth or tenth day the virus becomes non-infectious and the patients are not tested again,” he said.
“However, the virus has been reported to be living in patients who have recovered around 39 to 40 days back,” he added.
India’s coronavirus death toll surpasses 50,000,total number of tests cross the 3 crore mark
Implementation of testing aggressively, tracking comprehensively and treating efficiently through a plethora of measures have contributed to the existing high level of recoveries as well, it said. The total number of recoveries in the country rose to 18,62,258 on Sunday, according to official data.
Improved and effective clinical treatment in hospitals, supervised home isolation, use of non-invasive oxygen support, and improved services of the ambulances for ferrying patients for prompt and timely treatment have been the focus of the Centre and state and UT governments, the ministry said.
Covid-19: India’s flimsy antigen testing regime ‘like flipping a coin’
With one of the world’s fastest-growing epidemics but also one of the lowest testing rates, India in late June started to use quick antigen tests to ramp up detection. But the tests, which can report false negatives as much 50 per cent of the time, threaten to obscure the true picture of its outbreak, further challenging containment efforts.