The story of EIM begins in the spring of 1985 when very little, if any, affordable EGL and EDO coverages were available from commercial markets. Representatives of 67 electric utilities came together in Chicago on June 25, 1985, to discuss a situation that was becoming a crisis. The meeting ended with a vote to do a feasibility study.
A committee was formed with representatives from the utilities and selected consultants. Their first meeting was in September 1985 in Toronto. By April 1986, the committee was recommending the formation of a mutually owned excess insurance company, one that would serve gas utilities as well as electrics. From April to June, Energy Insurance Mutual was organized with six directors elected and a management staff put in place. The Company was incorporated under the Companies Act of Barbados on June 13, 1986 and began its operations on July 1, 1986 from Bridgetown, Barbados, where it remains domiciled. EIM issued its first policies to 17 founding Member Insureds on the 1st day of July and today all remain EIM Members. EIM received its license to conduct business in the State of Florida on June 9, 1988, at which time the Tampa office became fully operational.