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Articles by Patrick Coate
Fast Locations and Slowing Mobility
Supersedes Working Paper 19-49/R – Fast Locations and Slowing Mobility This paper shows that the declining trend in internal migration in the United States is primarily due to increasing home attachment in “fast locations,” areas with relatively high rates of population turnover. These locations were population growth destinations in the 20th century, with transient populations that settled as regional population growth converged.
Workers' compensation and the aging workforce
(Photo: Syda Productions/Shutterstock.com) People are living longer than ever these days. The World Health Organization (WHO) reports that by the year 2050, the population of those aged 60 and older will total two billion. 2015, by comparison, had an aging population of 900 million. As for the future, experts estimate that many babies born in 2012 who live in wealthier countries should live to see their one-hundredth birthday.
Insurance Coverage Q&A: Managing multiple ACV payments
Insureds tend to get the benefit of the doubt when a policy is ambiguous. (Credit: Valerii Evlakhov/Adobe Stock) PropertyCasualty360.com editor's note: Every claim is different, and some insurance policies can be difficult to interpret for unique situations. FC&S Expert Coverage Interpretation, the recognized authority on insurance coverage interpretation and analysis for the P&C industry, makes it simple to find credible answers to your complicated coverage questions.
How to navigate 2024's dicey special-event insurance demands
By Patrick Coate | August 15, 2024 Construction claims jump nearly 20% when temperatures rise above 100 degrees. By Brittney Meredith-Miller | August 14, 2024 The number of fires in 2024 is lower than the 10-year to-date average, but the number of acres burned has surpassed the 10-year average of 4.1 million. By Kendra Pierre-Louis | August 14, 2024 FEMA says only half of households believe they can prepare for a catastrophe, but 'self-efficacy' decreases damage.
The Importance of Identifying Whole Home Surge Protectors in Lightning Claims
When lightning strikes, the resulting damage can be extensive and costly. Insurance adjusters play a crucial role in assessing these claims, ensuring accurate settlements, and identifying potential subrogation opportunities. One critical aspect that adjusters must be vigilant about is determining whether a whole home surge protector is installed in the affected property.
How extreme temperatures propel workers' comp claims
Hotter cities like Miami and Phoenix nearly double Chicago and Denver in construction claims during the summer. (Credit: Quality Stock Arts/Adobe Stock) The conversation about worker safety in extreme heat has taken center stage. Not surprisingly, workers are impacted differently across industry sectors.
Examining the state of wildfire risk in 2024
(Credit: metamorworks/Adobe Stock) As of August 14, 29,132 fires have burned more than 5.2 million acres in the United States this year, according to data from the National Interagency Fire Center, with 78 large active fires being managed nationwide. Of the 78 active fires, 23 are in Oregon, 14 in Idaho, and 9 are in Washington, with the others spread across areas of California, Arizona, Montana, Wyoming, Colorado, Nevada, Florida and Texas.
Understanding the Impact of Recessions on Workers Compensation
New You can now listen to Carrier Management articles! Workers and employers in the U.S. have endured 17 recessions during NCCI’s 100 years of operation. Executive Summary In late July, the . But with talk about the prospect of a recession or soft landing still circulating, Carrier Management asked NCCI to describe how recessions typically influence workers compensation results.
Remote Work Before, During, and After the Pandemic
Before the pandemic, only 6% of the employed worked primarily from home and about three-quarters of workers had never worked from home In May 2020, over one-third of the employed worked from home due to the pandemic—a close match for pre-pandemic estimates of the share of work that could be done remotely Office-based business and professional occupations were most likely to implement remote work, with three-quarters of such employees working from home early in the pandemic Most workers and...
Changing Workforce Demographics and Workplace Injury Frequency
NCCI Page Content Two By Patrick Coate April 1, 2019 The Modern Worker and On-the-Job Injuries: How Changing Employee Demographics Affect Claims Frequency The shape of the workplace is changing. The number of employees 55 and older has doubled since 2000. Women make up more than half of labor force growth. Service sector jobs are near record highs. How do these shifts in the employment pool correlate to injury claims?
Immigration Restrictions Harm Our Economy
In an article published in AIER’s January 1996 Research Report, Thomas Lehman wrote, “The present immigration policy of the United States amounts to nothing less than a tariff or barrier to entry on the commodity of labor, and harms American consumers in the same manner as tariffs and trade barriers on other capital or consumer goods.” In over 20 years, the picture has not improved.
Cell Phone Plans and the CPI
How much is unlimited data on your iPhone worth to you? In calculating the Consumer Price Index, the average answer is “a lot” — enough to explain a perceived slowdown in inflation, in fact. As other outlets have reported recently, a change in cell service was a major contributor to slowing price inflation in the last couple months as reported in the CPI.
Wage Growth after the Great Recession
Many commentators have noted that nominal wage growth has been lower than expected since the end of the Great Recession (see, for example, Danninger 2016). In particular, nominal wage growth was below trend from late 2009 to early 2015—the period covered by most studies—despite a decrease in unemployment.
Neighborhood Change in the Fourth Federal Reserve District: A Multivariate Approach
This special report provides a description of neighborhood change in the four largest cities of the Fourth Federal Reserve District, Cincinnati, Cleveland, and Columbus, Ohio, and Pittsburgh, Pennsylvania, from 1970 to 2010. The analysis relies on a statistical method of categorizing neighborhoods into a typology that is based on various quantitative characteristics of the residents and the housing stock.
A Serenity Prayer for Monetary Policymakers
I thank Michael Drury and the Global Interdependence Center for inviting me to speak in their Central Banking Series. I have had the opportunity to attend many GIC programs over the years and I have always walked away with new insights into the global economy and financial markets. I have also been honored to speak at two earlier GIC events.
Latest News Release
According to the Federal Reserve Bank of Cleveland, the median Consumer Price Index rose 0.2% (2.5% annualized rate) in February. The 16% trimmed-mean Consumer Price Index also rose 0.2% (2.2% annualized rate) during the month. The median CPI and 16% trimmed-mean CPI are measures of core inflation calculated by the Federal Reserve Bank of Cleveland based on data released in the Bureau of Labor Statistics' (BLS) monthly CPI report.
How Obama’s College Scorecard Helps (and Doesn’t)
Earlier this month, the Department of Education released a new College Scorecard which contains a variety of information about almost all U.S. colleges, including costs, graduation rates, test scores and students’ future earnings. While it is a great source of data, the Scorecard has important limitations and users should be careful when using student outcomes to compare colleges. When comparing costs, however, the Scorecard can be more useful.
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