Since its formation, ICI Mutual has continuously provided fund groups with core insurance coverages that respond to the key “real world” risks faced by funds, fund directors and officers, and fund advisers. Meanwhile, ICI Mutual has developed and introduced (typically at no additional premium to its insureds) a number of additional coverages to address the industry’s new and emerging risks.
What coverage is available for network security incidents?
In January of 2017, ICI Mutual introduced a new “Network Security Event Endorsement.”The endorsement is designed to specify the scope of coverage available under the ICI Mutual D&O/E&O Policy (with a corresponding endorsement for the IDL Policy) for losses that may be incurred by insureds in connection with network security incidents that result in disruption to, or interference with, the ability of insured entities to conduct advisory, shareholder servicing, or other day-to-day investment management activities. For more information, please see Network Security Event Endorsement FAQs.
What is the scope of coverage available for losses incurred in connection with data breaches of fund shareholder information?
In June of 2015, ICI Mutual introduced a new "Shareholder Data Breach Event Endorsement." The endorsement is designed to specify the scope of coverage available under the ICI Mutual D&O/E&O Policy (with a corresponding endorsement for the IDL Policy) for losses that may be incurred by insureds in connection with data breaches involving the unauthorized disclosure, acquisition or dissemination of confidential information regarding fund shareholders. For more information, please see Shareholder Data Breach Event Endorsement FAQs.
Is coverage available for claim-related internal corporate investigations?
In May of 2014, ICI Mutual introduced a new "Claim-Related Internal Corporate Investigations Endorsement" that adds coverage under the ICI Mutual D&O/E&OPolicy to defray expenses incurred by insureds in those internal corporate investigations that are related (as detailed in the endorsement) to "Claims" that are covered under the Policy. For more information, please see Claim-Related Internal Corporate Investigations FAQs.
What specialized coverages are available for independent directors?
In July of 2012, ICI Mutual introduced a number of enhancements via endorsement to coverage provided under the ICI Mutual D&O/E&O Policy for independent directors of registered investment companies (with a corresponding endorsement for the IDL Policy)
What types of coverage are available in connection with shareholder derivative demand investigations (SDDI)?
In January of 2011, ICI Mutual introduced a new “SDDI Endorsement” that adds coverage under the ICI Mutual D&O/E&O Policy for expenses incurred by registered investment companies and other insureds in connection with shareholder derivative demand investigations. For more information, please see SDDI FAQs.