The Insurance Industry Compensation Fund (IICF) established under the Insurance Act 2005 came into operation on 1st January 2016 and operates under the aegis of the Ministry of Financial Services and Good Governance

 

The Insurance (Industry Compensation Fund) Regulations 2015 (the Regulations 2015) made by the Minister under sections 88 and 92 of the Insurance Act 2005 was published in the Government Gazette of Mauritius in December 2015.

 

The Compensation Fund is organised in sub-funds, including the Hit and Run Sub-Fund.