DOL Moves to Repeal 100% Security Requirement for Coal Operators

The U.S. Department of Labor is proposing to repeal a Biden-era requirement for coal operators to post security deposits equal to 100% of their estimated black lung liabilities. Historically, the department did not require self-insured operators to post a security with a face value sufficient to cover all of their expected black lung liabilities, relying instead on a company's size as evidence of its ability to make future payments. However, three large self-insured operators filed for bankruptcy in 2014 with insufficient securities to cover their estimated $865 million in combined liabi...