Insurance fund refers to a special fund set up to compensate for economic losses caused by accidents or economic needs caused by personal injury or loss of work ability. In modern society, insurance funds generally have four forms:

(1) Concentrate the national financial reserve funds. Fund is a kind of monetary fund set up in the national budget, which is specially used to meet unexpected expenses and special needs in the national economic plan, such as the relief of catastrophic natural disasters, foreign invasion, mistakes in the national economic plan, etc.

(2) Insurance funds of professional insurance organizations, that is, insurance companies and other insurance organizations collect insurance funds by collecting insurance premiums to compensate insurance units and individuals for losses caused by disasters or pay insurance benefits when due.

(3) Social security fund. As a national social policy, social security aims to provide a series of basic living guarantees for citizens. Citizens have the right to get material help from the state and society in case of old age, illness, unemployment, disaster and loss of working ability. Social security generally includes social insurance, social welfare and social relief.

(4) Self-insurance fund, that is, economic units raise insurance funds by themselves to compensate for the losses caused by disasters and accidents. There are professional self-insurance companies abroad to raise funds to compensate the losses of parent companies and subsidiaries; Our country has a "safety production guarantee fund", through the establishment of this fund, the industry can protect itself, such as the "safety production guarantee fund" set up in sinopec group.