WASHINGTON, Feb. 9 -- Office of Workers' Compensation Programs has issued a proposed rule called: Division of Longshore and Harbor Workers' Compensation Guidance for Insurance Carrier Security Deposit Requirements.
The proposed rule was published in the Federal Register on Feb. 9 by James R. Macy, Director, Office of Workers' Compensation Programs.
Summary: The Office of Workers' Compensation Program is issuing this guidance to clarify the securitization requirements for insurance carriers authorized under the Longshore and Harbor Workers' Compensation Act (LHWCA) and its extensions. This guidance establishes a rubric which allows OWCP to adjust the insurance carriers' obligations based on their fiscal stability and performance within the...