Policyholder Services

The OMIC Advantage

Since opening for business in 1987, OMIC has risen to become the largest insurer of ophthalmologists in America, more than twice the size of our nearest competitor. There are many reasons we believe OMIC is the right choice for you. Here are six reasons to consider making us your partner for practice:

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 nearly $50 Million to our members through dividends. View OMIC’s Members Report.

Leader in the Industry

A-rated by AM Best, OMIC has been ranked #1 among 50 malpractice insurance companies in America for financial stability. No other carrier has matched OMIC’s consistent financial performance with regard to both long-term combined and operating ratios, the two most relevant financial measurements for an insurance carrier. OMIC’s premium to surplus ratio places us among the most fiscally sound malpractice carriers. Refer to OMIC’s AM Best Report for a full analysis of our financial performance and rating.

Best at Defending Claims

An ophthalmologist pays nearly half a million dollars in premiums over the course of a career, and premium paid is directly related to your carrier’s claims experience. OMIC has a higher win rate taking tough cases to trial, full consent to settle clause (which means we cannot settle a claim without your consent), and access to the best ophthalmic experts. Even OMIC’s competitors would probably concede OMIC’s superior level of ophthalmic expertise. As a result, OMIC pays 25% less per claim than other carriers and as a result OMIC’s base rates have consistently averaged approximately 15% lower than multispecialty carriers in the U.S and dividends are significantly higher than our major competitors.

Largest Insurer in the U.S.

OMIC is the largest insurer of ophthalmologists in the United States, and we’ve been the only physician-owned carrier to continuously offer coverage in all states since 1987. Because we are a national company, our fully portable policy can be taken with you wherever you practice. The policy is also non-assessable (which means we cannot charge you additional premium after the fact if premiums charged during a particular year were not sufficient to pay claims).

Expertise Unmatched

OMIC’s sole mission is to serve ophthalmology. The premier source of ophthalmic claims data and loss prevention materials, OMIC’s policyholder Hotline is the most used ophthalmic consultative service of its kind, and OMIC.com is the most visited website in America for ophthalmic risk management resources and patient consent documents. OMIC policyholders receive access and updates to new materials prior to the general public.

Supporting Your Specialty

OMIC was founded by members of the American Academy of Ophthalmology nearly a quarter century ago and is the only carrier sponsored and endorsed by AAO. OMIC is also endorsed by 53 other ophthalmic societies. The OMIC partnerships with state and subspecialty societies qualify their members for an exclusive 10% educational premium credit. Contact your state society for details.