Why OMIC

Our mission is to offer comprehensive, affordable liability insurance and best-in-class risk management and claims defense services. Similar to a non-profit, as a mutual insurance company, we remain committed to only charging insureds the premium necessary to pay claims and operate OMIC responsibly. When costs are lower than projected, we will continue to return through our dividend program any premium above which was necessary.

OMIC’s rates have been incredibly stable since our inception and have changed very little in more than 30 years. The average national rate for $1M in coverage for a full-time full surgical ophthalmologist increased just 5.3% between 1992 and 2024, despite an increase in the U.S. Consumer Price Index (CPI) of 225% during the same period.

OMIC has returned $102 million to policyholders through dividends since inception – an average of 8.5% or approximately $1,000 per insured per year. This average cumulative return was approximately $25,750 per insured - equal to two and a half years of coverage at the average annual premium. Only about a third of malpractice carriers issue dividend returns.

Because OMIC was created to defend ophthalmic practice exclusively, we have unmatched experience in our industry. We historically pay approximately 20% less per ophthalmic claim than other carriers when a settlement is necessary. We resolve 80% of cases with no indemnity judgment or settlement, and we secure a defense verdict in 9 out of every 10 cases we have taken to trial since inception.

OMIC is rated A by AM Best, the preeminent rating agency for our industry.

OMIC is the largest insurer of ophthalmologists in the US, and we offer coverage in all states. Our fully portable policy can be taken with you wherever you practice in America.

OMIC’s sole purpose is to serve you. Ophthalmologists are unique among physicians and deserve specialized products and services. Our ophthalmic claims data and loss prevention materials have been meticulously crafted over decades to provide our members with an added level of protection to prevent claims. The Hotline is OMIC’s unique ophthalmic risk management consultative service that our insureds have used over 1,000 times, and OMIC.com is America’s premier website for ophthalmic risk management resources and patient consent documents.

OMIC was founded by members of the American Academy of Ophthalmology and is the only malpractice insurance carrier sponsored and endorsed by the Academy. OMIC is also endorsed by most other ophthalmic societies in the US. We have provided significant funding and support for ophthalmic research, tort reform efforts, and patient safety initiatives.