China Insurance Guarantee Fund. According to the information of Baidu Encyclopedia, the insurance protection fund is centrally managed and used by the state-owned enterprise China Insurance Protection Fund Co., Ltd. The insurance protection fund is a statutory fund paid by insurance companies. It is used to provide relief to the insured or the policy transferee company when the insurance company is revoked, declared bankrupt and faces a major crisis in the insurance industry, which may seriously endanger social interests and financial stability.