The purpose of this legislation is to improve the War Hazards Compensation Act and the Longshore and Harbor Workers' Compensation Act by ensuring that the federal government pays interest on late reimbursements. This aims to alleviate financial burdens on insurance carriers and encourage their participation in providing coverage for employees engaged in overseas and defense-related activities. Key provisions of the legislation include the requirement for the Department of Labor to acknowledge claims for reimbursement within 14 days of receipt.