[Code of Federal Regulations]
[Title 20, Volume 3]
[Revised as of April 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 20CFR703.301]

[Page 912-913]
 
                      TITLE 20--EMPLOYEES' BENEFITS
 
  CHAPTER VI--EMPLOYMENT STANDARDS ADMINISTRATION, DEPARTMENT OF LABOR
 
PART 703--INSURANCE REGULATIONS--Table of Contents
 
Sec. 703.301  Employers who may be authorized as self-insurers.

    The Office will consider for the granting of authority to secure by 
self-insurance the payment of compensation under the Longshoremen's and 
Harbor Workers' Compensation Act, or its extensions, any employer who, 
pursuant to the regulations in this part, furnishes to the Office 
satisfactory proof of such employer's ability to pay compensation 
directly, and who agrees to immediately cancel any existing

[[Page 913]]

policy as of the time of the OWCP's approval of the employer to be self-
insured, or who does not become otherwise insured under this Act. The 
succeeding regulations relating to self-insurers require the deposit of 
security in the form either of an indemnity bond or negotiable 
securities (at the option of the employer) of a kind and in an amount 
determined by the Office, and prescribe the conditions under which such 
deposit shall be made. The term ``self-insurer'' as used in these 
regulations means any employer securing compensation in accordance with 
the provisions of 33 U.S.C. 932(a)(2) and with these regulations.

[39 FR 14922, Apr. 29, 1974]