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Governmental insurance funds are those funds that engage in insurance transactions which are not undertaken usually by insurance companies or that the government thinks it should deal with them itself.

A governmental insurance fund is established per a decision from Prime Minister specifying therein the terms and conditions, and prices of insurance transactions set forth therein based on the proposal of the board of directors of the Authority.

The executive regulations of this law include provisions governing the aspects of the EFSA’s regulation of such funds.