War Hazards Compensation Reform Act requires federal interest payments on late reimbursements and modifies collateral requirements.
The War Hazards Compensation Reform Act amends the War Hazards Compensation Act and the Longshore and Harbor Workers’ Compensation Act. It mandates that the federal government pay interest on late reimbursements for claims under the War Hazards Compensation Act. The act also modifies collateral requirements, prohibiting the Secretary of Labor from requiring insurance carriers to post collateral for liabilities arising from War Hazards Compensation Act claims.
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