(a) Every policy or contract of insurance issued under authority of this chapter shall contain (1) a provision to carry out the provisions of section 935 of this title, and (2) a provision that insolvency or bankruptcy of the employer and/or discharge therein shall not relieve the carrier from payment of compensation for disability or death sustained by an employee during the life of such policy or contract.

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Terms Used In 33 USC 936

  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • carrier: means any person or fund authorized under section 932 of this title to insure under this chapter and includes self-insurers. See 33 USC 902
  • Compensation: means the money allowance payable to an employee or to his dependents as provided for in this chapter, and includes funeral benefits provided therein. See 33 USC 902
  • Contract: A legal written agreement that becomes binding when signed.
  • deputy commissioner: means the deputy commissioner having jurisdiction in respect of an injury or death. See 33 USC 902
  • Disability: means incapacity because of injury to earn the wages which the employee was receiving at the time of injury in the same or any other employment. See 33 USC 902
  • employee: means any person engaged in maritime employment, including any longshoreman or other person engaged in longshoring operations, and any harbor-worker including a ship repairman, shipbuilder, and ship-breaker, but such term does not include&mdash. See 33 USC 902
  • employer: means an employer any of whose employees are employed in maritime employment, in whole or in part, upon the navigable waters of the United States (including any adjoining pier, wharf, dry dock, terminal, building way, marine railway, or other adjoining area customarily used by an employer in loading, unloading, repairing, or building a vessel). See 33 USC 902

(b) No contract or policy of insurance issued by a carrier under this chapter shall be canceled prior to the date specified in such contract or policy for its expiration until at least thirty days have elapsed after a notice of cancellation has been sent to the deputy commissioner and to the employer in accordance with the provisions of subsection (c) of section 912 of this title.