There is hereby created a body corporate and politic constituting a public corporation and autonomous governmental instrumentality of the Government of the Virgin Islands, by the name of the “Virgin Islands Windstorm and Earthquake Insurance Authority”. The Authority shall be subject to the control of a Board, as provided in this chapter, but it is a corporation having legal existence and personality separate and apart from the Government. The debts, obligations, contracts, bonds, receipts, expenditures, accounts, funds, facilities and property of the Authority shall be deemed to be those of the Authority and not to be those of the Government of the Virgin Islands, or any office, bureau, department, agency, commission, branch, agent, office or employee thereof. The Authority is deemed a domestic insurer for all purposes of the Insurance Code of the Virgin Islands.