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Title 8 . Labor and Workforce Development
Chapter 46 . Fishermen's Fund
Section 30. Factors considered

8 AAC 46.030. Factors considered

(a) In determining an employer's financial ability to meet the obligations under the Act and in determining if a security deposit is required, the board will review the employer's audited financial statements and other information submitted in support of its application and will consider the

(1) ratio of tangible net worth to annual compensation premium;

(2) ratio of working capital to total assets;

(3) ratio of quick assets to current liabilities;

(4) ratio of tangible net worth to annual self-insurance retentions;

(5) ratio of current assets to current liabilities;

(6) ratio of debt to tangible net worth;

(7) ratio of cash flow to current liabilities;

(8) ratio of working capital to net sales;

(9) profit and loss history;

(10) form of business organization and relationship of parent company to subsidiary companies;

(11) compensation loss history, outstanding compensation claims liability, and proposed excess insurance coverage;

(12) number of employees;

(13) nature of business;

(14) safety program;

(15) obligations under all other self-insured programs including their self-insured retention levels;

(16) claims facilities and administration;

(17) financial trends of the employer for the last three years; and

(18) the economic outlook for the industry.

(b) The information considered in (a) of this section will be used along with an overall evaluation of the employer's financial condition based on generally accepted accounting principles to determine if the employer has the financial ability to pay current and future obligations under the Act. All financial ratios are defined according to their normal usage in analyzing financial statements. All financial ratios will be compared to the average ratios in the industry relative to the employer's type of business and for businesses of similar financial size.

History: Eff. 11/20/83, Register 88

Authority: AS 23.30.005

AS 23.30.075

AS 23.30.090


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Last modified 7/05/2006