2. Insurance guarantee fund
Refers to the reserve fund specially drawn from the year-end balance in order to have enough ability to deal with the huge claims that may occur. Insurance protection fund is different from unexpired liability reserve and outstanding claims reserve. Unexpired liability reserve and outstanding claims reserve are liabilities of insurance institutions, which are generally used for claims, while insurance protection fund belongs to the capital of insurance institutions, which is mainly used to deal with huge claims of huge disasters and accidents, and can only be used when the business income and other reserves of the year are insufficient for claims. In order to protect the interests of the insured and support the stable operation of the insurance company, the insurance company shall, in accordance with the provisions of the Insurance Law, withdraw 1% from the company's premium income in the current year as the insurance protection fund. When the withdrawal amount reaches 10% of the total assets of the insurance company, the withdrawal of funds can be stopped. The insurance protection fund shall be extracted separately and stored in the special account of the commercial bank designated by the People's Bank of China or the People's Bank of China. The insurance protection fund shall be centrally managed and used as a whole.
I don't understand the insurance fund you mentioned.