Govt. Fund for SR & CC and Terrorism
This is a fund set up by the Ministry of Finance through which the Insurers are able to provide cover against SR & CC (for full value in most instances) and Terrorism (up to different limits) for certain specified classes of business. SR & CC and Terrorism though provided under the Insurance Policy, is on behalf of the Government Fund and decisions regarding settlement of claims are only made by the Fund which are binding on the Insurers.