WCPOProposed Rule
Division of Longshore and Harbor Workers' Compensation Guidance for Insurance Carrier Security Deposit Requirements
Labor & WorkplaceFinance & Banking
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Summary
This proposed rule sets new requirements for insurance companies that provide workers' compensation coverage to harbor and dock workers, specifically about how much money they must hold in reserve as a security deposit. The rule aims to ensure these insurance companies have enough financial backing to pay worker benefits if they run into trouble.
Key Points
- 1Insurance carriers who cover longshore and harbor workers must maintain security deposits with federal regulators to guarantee they can pay worker claims
- 2The rule establishes specific deposit amounts and procedures that insurance companies must follow to stay compliant
- 3This protects workers in maritime jobs by making sure their compensation insurance is financially stable and won't fail to pay benefits
- 4The regulation applies to any insurance company offering workers' compensation to employees in ports, harbors, and loading dock operations
- 5This is currently a proposed rule, so there will be a public comment period before final approval
Key Dates
Published
February 9, 2026
This summary is for informational purposes only. It may not capture all nuances of the regulation. Always refer to the official text for authoritative information.
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