ICI Mutual - Created by the Mutual Fund Industry to Fill an Industry Need
ICI Mutual was founded in 1987 during an insurance crisis. At the time, commercial insurers were unwilling to step up to address the specific insurance needs of mutual funds in a realistic and consistent manner. ICI Mutual was formed expressly to serve the mutual fund industry and only the mutual fund industry, with products and services specifically tailored to mutual fund companies--and their directors, officers and advisers.
See a timeline (PDF) of ICI Mutual's First 25 years.