Browsing articles from "September, 2014"

OMIC Chosen as one of The Principal® 10 Best Companies for Employee Financial Security in America

For more than a quarter century, OMIC has produced consistently superior results for its policyholders. Now OMIC has been recognized as one of a small and select group of companies that excel at giving their employees a financial edge as well. The Principal® and Inc. Magazine chose OMIC as one of the 10 Best Companies for Employee Financial Security in America.

Read more: press release. 2014 Best Practices: booklet.

We are proud of our strong financial stewardship of employee resources and retirement funds. We view our commitment to employees the same as we view our commitment to policyholders – achieve consistent above average results with the most dynamic and comprehensive program available.

Along with the recognition, The Principal awards a donation to a charity selected by each winning company. OMIC chose GLIDE to receive the $2,500 donation. OMIC matched the amount for a total of $5,000 to this wonderful organization.

glide Learn more about The Principal 10 Best Companies for Employee Financial Security.

OMIC’s record of employee retention is one of the best in the industry with many on staff surpassing 20 years of service. Even the first employee hired by OMIC back in 1987 remains employed by our company.

OMIC looks out for our policyholders, too. Our company consistently lands among the top 15% of U.S. mid-sized insurance companies for financial stability. Recent accolades bestowed upon OMIC are a reflection of the hard work and dedication of our Board and staff and the loyalty of our insureds. In addition to a Special Recognition award from the American Academy of Ophthalmology on our 25th anniversary, OMIC ranked #1 among PIAA (Physician Insurers Association of America) companies in two long-term financial benchmarks, combined and operating ratios. As a result, AM Best has awarded us with an A (Excellent) rating and a creditor mark of a+ (Outstanding).

OMIC was also featured on the cover of Risk and Insurance Magazine as one of America’s most successful insurance captives and ranked #10 out of 255 medical malpractice insurers on SNL Financial’s list of the best performing mid-sized commercial insurance companies. In nearly three decades of superior performance OMIC has beaten our peer group of insurance companies in claim performance and dividend returns consistently since our founding.

Six reasons OMIC is the best choice for ophthalmologists in America.

Best at defending claims.

An ophthalmologist pays nearly half a million dollars in premiums over the course of a career. Premium paid is directly related to a carrier’s claims experience. OMIC has a higher win rate taking tough cases to trial, full consent to settle (no hammer) clause, and access to the best experts. OMIC pays 25% less per claim than other carriers. As a result, OMIC has consistently maintained lower base rates than multispecialty carriers in the U.S.