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The following is a greeting given in one of the 20 indigenous languages recognized by the State of Alaska.

Ade' ndadz dengit'a?
(Deg Xinag)
"Hello, how are you?"

Self Insurance - Velma Thomas, Program Coordinator

Every employer who has employees working in Alaska must purchase and keep in effect a workers’ compensation insurance policy, or become approved as a self-insured employer.

In order to qualify as a self-insured employer in Alaska, a company must

  • Have been in business within this state for at least five years;
  • Have at least 100 employees;
  • Have a net worth of at least $10,000,000;
  • Have the financial ability to meet current and future obligations under the Act;
  • Have a safety/loss program in effect;
  • Provide claims services in Alaska either through its own staffed facility, or through independent, licensed, resident adjusters; and
  • Agree to post any security deposit required.

An employer who meets these conditions may apply for a Certificate of Self-Insurance by completing and submitting an application Form 07-6129. The application must be accompanied by

  • Audited financial statements for the three fiscal or calendar years immediately preceding the filing of the application;
  • A copy of the binder or a description of proposed excess insurance including the effective dates, type of coverage, conditions and exclusions, the limits and retentions of each type of coverage, and a guarantee of coverage until the board receives a copy of the policy;
  • Statistical information regarding total Alaska payroll, Alaska workers’ compensation losses, and premiums paid for the past three years;
  • A copy of or a detailed outline of its safety/loss control program; and
  • A security deposit in the amount of $600,000 or 125% of the total accrued workers’ compensation liability, whichever is greater. The security deposit must be in the form of an irrevocable letter of credit from a financial institution authorized to conduct business in Alaska.

In addition to the above, a company which is a majority or wholly owned subsidiary must provide a written guarantee from its parent company. A joint venture must provide a copy of its operating agreement and audited financial statements for the three fiscal or calendar years immediately preceding the filing of the application for each general partner.

A Certificate of Self-Insurance is valid for a period of one year from the date of issue, and may be renewed on application Form 07-6130.