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.