| State Fund Financial Reports |  | |
Information on this page is provided to help L&I's constituents better understand how Washington State's Industrial Insurance Fund (known as the "State Fund") is managed.
Rates from January 1 through December 31, 2009
See how the rates in your industry change in 2009. You'll also find additional information about historical and average premium rates.
Overview of the current State Fund financial information
Please see the 2008 Year in Review: Washington's Workers' Compensation Program (F200‑015‑000) for an overview of the State Fund.
In the 2008 Annual Report for the Washington State Fund (F101‑086‑000), you'll find:
- How we are helping employers improve workplace safety.
- How the workers' compensation system is funded and how we set rates.
- What we are doing to keep costs down for workers, employers, and providers.
- An overview of our financial statements.
State Fund financial information reports
These reports are based on statutory accounting principles and practices as promulgated by the National Association of Insurance Commissioners, as would be required of any property and casualty insurance enterprise in the United States when reporting its financial condition to insurance regulators. This accounting basis is used to allow regulation of insurance solvency and the stability of premium rates.
These reports show only the Basic Plan that includes the:
- Accident.
- Medical Aid.
- Pension Funds combined.
These Industrial Insurance Fund Financial Information reports typically become available in January for the preceeding fiscal year ending June 30.
| Financial information reports |
|---|
| 2008 GAAP report |
 2008 GAAP Financial Report (1940 KB PDF / 6 min). |
| 2008 SAP report |
| 2008 SAP Financial Information (3090 KB PDF / 9 min). |
| 2007 GAAP & SAP reports |
| 2007 GAAP Financial Report (1640 KB PDF / 5 min). 2007 SAP Financial Information (2140 KB PDF / 6 min). |
| Past reports |
| 2005 financial information (101 KB PDF). 2004 financial information (129 KB PDF). 2003 financial information (159 KB PDF). 2002 financial information (68 KB PDF). 2001 financial information (100 KB PDF). 2000 financial information (89 KB PDF). 1999 financial information (641 KB PDF / 2 min). |
| Ten year summary of Washington State Industrial Insurance Fund |
| Ten Year Summary of Financial Information (1999 through 2008) (43 KB PDF). |
 Get Help Downloading Files (files open in a new window). |
If you have questions about the financial reports or need additional financial information, please e-mail Sharon Elias, Chief Accounting Officer, at elia235@Lni.wa.gov.
Comprehensive Annual Financial Report (CAFR)
The State of Washington's CAFR is audited by the State Auditor's Office and follow generally accepted accounting principles (GAAP). The GAAP State Fund financial reports are included as a major business activity and can be found within the State of Washington's CAFR.
The schedules accompanying the statements break out the Basic Plan that includes only the Accident, Medical Aid and Pension Funds combined from the Supplemental Pension Plan.
The CAFR reports (www.ofm.wa.gov) typically become available in January for the preceeding year.
Additional information
Related State Fund Information explains how Washington State:
- Provides higher benefits to workers with lower costs to employers.
- Compares to other workers' comp insurers.
- Ranks in an Oregon Premium Rate Ranking Study.
