In order to make available to insurers which participate in the Industry Placement Facility the reinsurance afforded by the Federal reinsurance facility against losses resulting from riots and civil disorders, there is hereby created a separate and distinct body corporate and politic which shall be known as the "Pennsylvania Civil Disorder Authority." The authority is hereby constituted an instrumentality of the Commonwealth, and the exercise by the authority of the powers conferred by this article shall be deemed and held to be an essential governmental function of the Commonwealth.
40 P.S. § 1600.301