United States Longshore And Harbor Workers' Compensation Act Of 1927- LHWCA

AAA

DEFINITION of 'United States Longshore And Harbor Workers' Compensation Act Of 1927- LHWCA'

A program administered by a division of the United States Department of Labor that offers financial compensation and medical care to certain maritime workers who are disabled from injuries that occur on U.S. navigable waters and adjoining areas for loading, unloading, repairing or building a vessel. The United States Longshore and Harbor Workers' Compensation Act first enacted in 1927, provides workers' compensation benefits to maritime workers such as dock workers, Outer Continental Shelf workers, and United States contractors who are working on foreign soil, such as U.S. civilian contractors in Iraq and Afghanistan. The Act also provides benefits to dependents in the event the injury causes the employee's death. Also called the Longshore Act or LHWCA.

INVESTOPEDIA EXPLAINS 'United States Longshore And Harbor Workers' Compensation Act Of 1927- LHWCA'

The Longshore and Harbor Workers' Compensation Act is administered by the Office of Workers' Compensation Programs (OWCP), Employment Standards Administration, U.S. Department of Labor. A maritime worker who is covered by the Longshore and Harbor Workers' Compensation Act is generally entitled to compensation benefits equal to two-thirds of his or her average weekly wage while receiving medical treatment. In addition, the worker may receive a scheduled award for injury to body parts, or two thirds of the worker's lost earning capacity.

RELATED TERMS
  1. United States Treasury Money Mutual ...

    An investment fund that pools money from investors to purchase ...
  2. The Jones Act

    Legislation that regulates maritime commerce between U.S. cities. ...
  3. Workers' Compensation

    A state-sponsored system that pays monetary benefits to workers ...
  4. Maritime Law

    A body of laws, conventions and treaties that governs international ...
  5. Builders Risk Hull Insurance

    A protection policy pertaining to when a ship is in the builders' ...
  6. Disability-Income (DI) Insurance

    An insurance product that provides supplementary income in the ...
Related Articles
  1. Home & Auto

    5 Insurance Policies Everyone Should Have

    Insurance policies come in a wide variety of shapes and sizes. Shop carefully and the right policies will go a long way towards helping you protect your assets.
  2. Options & Futures

    Choosing The Best Disability Insurance

    Social Security benefits can be hard to collect. Find out why you need disability insurance to protect your income, and learn how to choose the right policy for you.
  3. Home & Auto

    Long-Term Care Insurance: Who Needs It?

    No one is immune to the possibility of one day needing long-term care - and the costs can deplete a life savings.
  4. Options & Futures

    The Disability Insurance Policy: Now In English

    Learn to translate this complicated policy so you can rest assured you're covered.
  5. Economics

    What Is The Labor Market Conundrum?

    We are facing a conundrum with investment implications: Why are wages still stagnant, when jobs are being created at the fastest pace since the late 90's?
  6. Investing

    What are Preference Shares?

    Preference shares, also referred to as preferred shares, are equity shares that give the shareholders certain rights ahead of common shareholders. For instance, when the corporation declares ...
  7. Economics

    Are You the Victim of Unfair Labor Practices?

    If you are a union member, a union leader, or a manager at a company with an established union, you should understand unfair labor practices.
  8. Bonds & Fixed Income

    How Quantitative Easing Affects the Labor Market

    The Federal Reserve used quantitative easing to aid economic growth. QE has impacted many areas, including the labor market, but are the effects good?
  9. Personal Finance

    Your Boss Can't Do That! Laws That Protect Workers

    By federal law, American employees enjoy many legal protections that– among other things– provide a minimal level of income and make the workplace safer.
  10. Economics

    How The Bureau Of Labor Statistics Works

    The Bureau of Labor Statistics (BLS) is the primary statistical agency for the U.S. federal government in labor economics and statistics.

You May Also Like

Hot Definitions
  1. Asset Class

    A group of securities that exhibit similar characteristics, behave similarly in the marketplace, and are subject to the same ...
  2. Fiat Money

    Currency that a government has declared to be legal tender, but is not backed by a physical commodity. The value of fiat ...
  3. Interest Rate Risk

    The risk that an investment's value will change due to a change in the absolute level of interest rates, in the spread between ...
  4. Income Effect

    In the context of economic theory, the income effect is the change in an individual's or economy's income and how that change ...
  5. Price-To-Sales Ratio - PSR

    A valuation ratio that compares a company’s stock price to its revenues. The price-to-sales ratio is an indicator of the ...
  6. Hurdle Rate

    The minimum rate of return on a project or investment required by a manager or investor. In order to compensate for risk, ...
Trading Center