Defense Base Act Insurance Improvement Act of 2012 - Amends the Defense Base Act (the Act) to require satisfaction through the Government Defense Base Act self-insurance program of insurance and benefits requirements imposed on defense contractors with respect to on-job injuries.
Directs the Secretaries of Defense (DOD) and Labor to jointly: (1) develop and execute an implementation strategy for a self-insurance program for insurance required by the Act, and (2) report to Congress on such strategy and on the implementation of this Act.