News

OMIC declares another large dividend to be paid in 2018

We are pleased to announce a 20% dividend for policyholders renewing in 2018.

Since 2007, OMIC has declared dividends totaling more than $80 Million. To put this into perspective, on average, each of our physician policyholders has received cumulative credits equal to twice their annual premium. We are thrilled that our insureds have received two of the past ten years of coverage at essentially no cost – a tremendous return on the investment in our company. This good news is a direct result of our policyholder’s commitment to good medicine, which helps lower claim trends over time.

Our consistent return of premium places OMIC significantly ahead of our peer medical professional liability companies and is in line with a long-standing commitment to fiscal conservatism. From 2012 to 2016 alone, OMIC’s average yearly dividend of 20.8% far exceeded the average of 6.6% for other malpractice carriers. And, unlike many of our multispecialty competitors, we have returned all premium above what has been needed to prudently operate the company and maintain a strong surplus; and we’ve done so at the earliest opportunity.

The 2017 dividend will be payable as a 20% premium credit to insureds who renew their insurance with OMIC in 2018.

In addition, OMIC is also happy to announce that rates in all states and territories will remain unchanged throughout 2018. OMIC’s premiums in recent years remain quite competitive and we will do everything in our power to keep them as low as possible going forward.

We know that our success depends on our insureds continuing support of OMIC. Thank you for your loyalty and we hope you will spread the good news to colleagues who have not yet joined our company.