The key word here is that it's a contingent liability, so it's in place. Assuming there is an event, the person who is harmed brings forward a claim, and that claim is assessed as to whether or not it's valid. Then the process would be, as for any other insurance claim, to look at the actual detailed claim and evaluate it and process it. The money would come out of the central revenue fund.
On February 11th, 2014. See this statement in context.