The fund amount payable by insurance companies equals the product of the business income and the fund rate.

    i. The business income refers to the amount, excluding the value-added tax (VAT), paid to an insurance company by an applicant pursuant to the insurance contract in order to obtain the corresponding insurance product.

    ii. The fund rate consists of the base rate and risk-based rate. For rate determination and adjustment, the insurance regulatory authorities under the State Council shall propose a plan, consult with relevant departments, and implement the plan upon approval by the State Council. As from 2023, the fund rate shall be subject to the Notice on Matters concerning the Payment of Insurance Security Fund (Y.B.J.B.F. [2023] No. 2).