Insurance Fund for Natural Disasters

Vice-President Mohammad Mokhber on Saturday announced the launch of the Natural Disaster Insurance Fund, after it was approved by the cabinet.
The Majlis approved the establishment of the long-awaited fund last year to cover homes against natural disasters. The law was approved by the Guardian Council earlier this month, YJC.ir reported.
As per the articles, the government will give the fund 500 billion rials ($1.7 million) as initial capital. The fund's income will include premium, investment returns and donations.  
Homes linked to the national power grid will be covered by the fund and purchasing home insurance against natural disasters is mandatory while the premium is added to the electricity bills.