New Regulatory and Cyber (eMD) Liability Benefits Added

We are pleased to announce that four new coverage benefits are being added to your professional liability policy effective January 1, 2016. Enhancements include Proactive Privacy Breach Response Costs and Voluntary Notification Expenses which allow insureds an opportunity to take preemptive actions to avoid adverse situations prior to legal requirements to do so; BrandGuard(TM), which provides reimbursement for lost revenue directly resulting from an adverse media report or notification to patients regarding security or privacy breaches; and PCI DSS Assessment coverage to pay fines or penalties levied by the Payment Card Industry Data Security Standards council (for VISA, MC, AmEx, Discover, JCB merchants who are not PCI DSS compliant).

More information on these benefits will be published in the next few weeks. Renewal policy documents will include additional updates.

Learn more about the Policyholder Benefits included in OMIC’s Professional Liability policy that cover a variety of regulatory, billing, cyber, and electronic media liabilities.

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Consistent return of premium.

Publicly-traded insurance companies exist to make profits for shareholders while physician-owned carriers often return profits to their policyholders. Don’t underestimate this benefit; it can add up to tens of thousands of dollars over the course of your career. OMIC has one of the most generous dividend programs for ophthalmologists and has returned more than $90 Million to our members through dividends.

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New Regulatory and Cyber (eMD) Liability Benefits Added