ICI Mutual’s annual Claims Trends reports on significant civil lawsuits, regulatory enforcement proceedings, and operational errors involving fund advisers and their affiliates, registered investment companies, and fund directors and officers. The publication is designed to assist ICI Mutual’s insureds to better assess and manage the risks associated with such matters, thereby reducing the potential for associated losses and reputational damage.

ICI Mutual measures claims activity by both frequency and severity. Although 2023 saw a modest year-over-year increase in the overall number of claims submitted by ICI Mutual’s insured fund groups, claims frequency for the year remained within historical norms. Over the five-year period 2019–2023, nearly 40% of ICI Mutual’s insured fund groups have submitted at least one claim notice.

To read the most recent report, Claims Trends: A Review of Claims Activity in the Mutual Fund Industry (January 2023–March 2024), click here.