The Oklahoma Application For Individual Own Risk Employer Permit (Self Insured Employer Application) is an application for employers who wish to self-insure their employees in the state of Oklahoma. This application allows employers to become a self-insured employer in the state of Oklahoma and to provide workers' compensation coverage for their employees. There are two types of Oklahoma Application For Individual Own Risk Employer Permit (Self Insured Employer Application): Full-Risk and Alternative Risk. The Full-Risk application is for employers who wish to assume all responsibility and liability for their workers' compensation coverage. This application requires employers to provide workers' compensation coverage in accordance with state laws and regulations. The Alternative Risk application is for employers who wish to use an alternative workers' compensation plan such as a large deductible plan, a self-insurance group, or a captive insurance company. This application allows employers to customize their workers' compensation coverage and to choose the type of risk they wish to assume. Both applications require employers to provide detailed information about their business, the type of business, and the types of workers they employ. Employers must also provide financial information such as their assets, liabilities, and net worth. The application also requires employers to provide details about their workers' compensation coverage such as the type of coverage, the amount of coverage, and the duration of coverage. Additionally, employers must submit a statement of solvency to the Oklahoma Insurance Department. Once the application is approved, employers will be issued a Self-Insured Employer Permit that will allow them to provide workers' compensation coverage for their employees.