Government regulations effective 1929 and subsequently amended require all insurance companies to reinsure 30% of each policy with the National Reinsurance Corp., a state organization; in 1954, life policies were exempted from this requirement. It is possible to secure insurance policies for flood damage, third-party liability, earthquake, commercial shipments, theft, fire, and accident, as well as life. Varied social security schemes are administered directly by the state. Third-party automobile liability, workers' compensation, and employers' liability are all compulsory. Workers' compensation is covered solely by the government as a part of the Social Security scheme. The insurance market is officially regulated through the Ministry of Commerce.