Fully reserved means that the workers' compensation account established by W.S. 27‑14‑701 has, in the opinion of a qualified actuary, funds sufficient on a discounted basis to provide for all unpaid loss and loss adjustment expenses as well as an actuarially appropriate provision for adverse contingencies;
Examples of Fully reserved in a sentence
Fully reserved balances are written-off against the reserve once collection is determined to be remote.
Fully reserved receivables are reviewed on a monthly basis and uncollectible accounts are written off when all reasonable collection efforts have been exhausted.
Fully reserved raw materials are charged to cost of goods sold at a zero basis when used, which has a favorable impact on gross profit.