OMIC Members Report 2009

Mutual Interests

Mutual Interests highlights OMIC’s many innovations in ophthalmic liability insurance over the past 22 years that have lessened the legal threats to ophthalmologists and lowered long-term insurance costs for OMIC member-insureds.

Highlights of this year's report:

√  OMIC outperformed all other physician-owned carriers in the two most referenced gauges of financial strength—operating and combined ratios— from 2004 to 2008.

√  OMIC has issued premium credits 12 of the past 16 years, paying an average of approximately $3,300 per policyholder in the past two years alone.

√  OMIC’s average long-term rates are 13% lower than major multispecialty competitors.

√  OMIC’s average indemnity (claim) payments are 25% less than multispecialty carriers.

√  OMIC’s ophthalmic risk management program offers one of the most generous financial incentives in the industry. More than $12 million in credits have been issued during the past 10 years.

√  OMIC has been rated “A Excellent” by AM Best for several years.

√  OMIC is endorsed by most ophthalmic societies.

Click inside the illustration above right to see the report (in PDF format). For a printed copy of this report, please contact OMIC.