Added Perspective

Claims Trends: A Review of Claims Activity in the Mutual Fund Industry (January 2021–March 2022)

May 3, 2022

By ICI Mutual

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. Despite a modest year-over-year decrease in 2021 in the overall number of claims submitted by ICI Mutual’s insured fund groups under their directors and officers/errors and omissions (D&O/E&O) policies, the frequency of claims reported to ICI Mutual remained within historical norms. Over the five-year period 2017–2021, nearly 40% of ICI Mutual’s insured fund groups submitted at least one claim notice. These figures suggest that, in the current environment, claims frequency remains an issue for the fund industry.


To read the most recent ICI Mutual Claims Trends report, click here



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