Insight, analysis & opinion from Joe Paduda
It’s not “if”, it’s when the next will recession hit. Things were looking iffy a couple months ago, and – if anything – the outlook has worsened since then And when it does, workers’ comp will be affected – like … Continue reading The coming recession’s impact on workers’ comp
Read More...This month marks the second longest economic expansion in US history; it’s been a decade since things turned around back in June 2009. Like all expansions, this one is going to end – and there’s mounting evidence it will happen … Continue reading The next recession – Not if, but when, and how bad will it be?
Read More...Claim frequency dropped another 5% in 2012, continuing a 25-year trend of ever-decreasing frequency…well, except for that one-year uptick during the recession. More tellingly, NCCI data indicates frequency has been steadily declining across all industry groups. However, this has been partially offset … Continue reading Workers’ comp claim frequency is down, will it stay there?
Read More...Part 2 of The NCCI State o’ the Line; aka the Dennis Mealy farewell tour. There was a good bit of discussion re frequency in his SoL report, with Mealy noting there was a sharp decline in relatively low-cost claims early … Continue reading Work comp frequency and severity – Mealy reports on 2012
Read More...After an increase in claim frequency in 2010 as the nation emerged from the Great Recession, the trend flattened out in 2011, as frequency declined by one percent – significantly less than the average over the last 20 years. That’s … Continue reading Work comp claim frequency – pretty stable
Read More...NCCI President Steve Klingel led off the NCCI Annual Issues Symposium (AIS) with a discussion of reform. Regulation Notably, despite the sweeping wins by Democrats at the state level, the actual number of reform bills likely to become law decreased. … Continue reading NCCI – Impact of regulatory changes and the recession on work comp
Read More...The decline in work comp claims frequency is worrying many in the workers comp managed care business – as well it should. As I noted last week, a drop in the frequency of claims will mean fewer cases to manage, … Continue reading The double whammy = claim frequency and declining employment
Read More...The US is either in a recession or about to be. What does that mean for workers’ comp? Broadly speaking, there are no studies that indicate WC costs decline as a result of recessions; in general costs tend to increase. … Continue reading What does the recession mean for workers comp?
Read More...Here’s the second half of my predictions – and how they panned out… 6. The growing impact of global warming will force changes in risk assessment, management and mitigation; technology adoption; and claims. The predicted (heat injuries, wildfires, hurricane intensity, sea … Continue reading 2023 work comp predictions…how’d I do part 2
Read More...Inflation. Employment. Manufacturing jobs. Wages. All are in waaaaay better shape than they were a couple years ago. What’s downright weird is how gloomy many are…in the face of pretty good news on many fronts. So let’s start the weekend … Continue reading Good news Friday – and implications for workers’ comp
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