(1) The amount of the total liability of the Commonwealth to pay money to persons under this Part in relation to contracts of insurance to which it is a party, or that have effect as if the Commonwealth were a party, shall not at any time be more than the total amount of the insurance assets of the Commonwealth at that time.
"insurance assets" means rights, property and assets vested in the Commonwealth under section 38B or acquired by the Commonwealth as a result of the exercise of its powers under this Part.