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Virus pummels global economy, jobs – even without 2nd wave

Gurria argued that “presenting the problem as the choice between lives and livelihoods, meaning a choice between health and the economy, is a false dilemma.

If the pandemic is not brought under control, there will be no robust economic recovery.”In case of a second wave of contagions, the OECD forecast that the average unemployment rate across the 37 developed countries that it represents would double this year to 10% and see “little recovery” in 2021. In the more optimistic scenario, the figure would be 9.2%. In poorer countries, the numbers are often higher, and informal workers are especially vulnerable.

Insurtech Lemonade files for IPO, to be listed in NY Stock Exchange

Powered by artificial intelligence and behavioral economics, Lemonade set out to replace brokers and bureaucracy with bots and machine learning, aiming for zero paperwork and instant everything.

Lemonade is currently available for most of the United States, Germany and the Netherlands, and continues to expand globally.

Covid -19 Pandemic:U.S. life/annuity industry posts a $23.1 billion net income loss in Q1 2020

According to the report, the L/A industry saw a $23.7 billion increase in total income to $230.4 billion for the period.

However, a $94.1 billion increase in total expenses, mainly due to a combined $57.3 billion year-over-year increase in aggregate reserves for life and accident and health contracts at Prudential, Brighthouse, Jackson National, AXA Equitable and Transamerica, negated the rise in total income.

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