ASME B30.20-2003 20-1.2.2
"The load-bearing structure components of a lifter shall be designed to withstand the stresses imposed by its rated load plus the weight of the lifter, with a minimum design factor of three, based on yield strength of the material, and the stress ranges that do not exceed the values given in ANSI/AWS D14.1 for the applicable condition. ....". SF for lifting eye is required to be 5.0 min.
Analysis or actual max working stresses must be determined based upon working conditions including impact or other factors pertinent to the application. Actual max working stress must be equal to or less than the allowable stress.
In the US the following may help guide you:
ASME BTH-1-2008 Design of Below the Hook Lifting Devices, Chapter 3
ASME B30.20a-2003 Structural and Mechanical Lifting devices. Section 20-1.2.2 Construction
CMAA crane requirements
AASHO 1.6.17
Steel Construction Manual-AISC
Occupational Safety and Health Administration (OSHA) 29 CFR standard 1926.753(e)(2) and 1926.251
American Society of Testing and Materials Specifications A391
Naval Facility Command NAVFAC-307
American National Standards Institute, "Below The Hook Lifting Devices"