Board of Directors

• The Audit Committee
  Oversees the financial reporting process of the Company, helping to ensure the objectivity of ICI Mutual’s management and external auditors, and the accuracy of the Company’s financial reporting.
• The Investment Committee
  Performs the critical oversight function of hiring and monitoring the professional advisers who manage ICI Mutual’s investment portfolio. Careful stewardship of these assets is necessary for maintaining the Company’s strong financial position.
• The Joint Underwriting and Risk Management Committees
  Establish and approve specific underwriting objectives and coverage, counsel management on ICI Mutual’s risk management and other publications, and help to identify and evaluate the ongoing and emerging liability risks faced by the fund industry.
• The Executive Committee
  Is comprised of Chairman and Vice Chairman of the Board, the chairman of each of the above Committees, the President of the ICI, and the President of ICI Mutual, and provides guidance and strategic oversight.
• The Nominating Committee
  Recommends individuals for service on the Company’s Board, ensuring that the Board is representative of ICI Mutual’s client base.
• The Claims Committee
  Reviews ex-post management’s adjustment of large claims and those claims involving unusual or especially complex issues to ensure that all claims settlements are consistent with the Company’s goal of prompt, rational, and even-handed resolution of claims.  It is not involved in making claim settlement decisions.

ICI Mutual is committed to demonstrating high standards of ethical business conduct.  To that end, the Company’s Board, officers and employees are subject to a Code of Business Conduct and Ethics.