Defending Ophthalmology

Year after year, we outperform the medical liability insurance industry across every major measure of claims defense, including a higher percentage of claims closed without payment to plaintiffs, lower average settlement amounts, reduced expenses per claim, and a superior trial win rate.

No other insurer in the nation matches our depth of experience. Our record of success in defending ophthalmic claims sets us apart from the traditional insurance industry.

OMIC consistently outperforms the industry average in all major claims defense benchmarks.

Over the past three years, OMIC has experienced remarkable growth. We have seen a significant increase in the number of policyholders who trust us to protect their professional livelihoods, and our financial strength has deepened through meaningful increases in both our corporate assets and policyholders' surplus. Additionally, we continue to reward your loyalty to OMIC by declaring significant dividend returns. These gains reflect the tireless efforts of our management team, staff, and board to ensure that we remain a secure, reliable partner for the ophthalmic community.

Among the most pivotal achievements during my tenure was the recruitment of a new President and Chief Executive Officer, Bill Fleming, in 2024. Under Bill’s leadership, we are already seeing the benefits of fresh strategic vision, operational innovation, and renewed energy. OMIC is a well-oiled machine and on track for another year of success. His appointment marked a critical investment in the future of our organization.

Equally important has been the continued strengthening of our relationship with our primary partner and sponsor, the American Academy of Ophthalmology. This partnership is foundational to our identity and success, and we remain aligned in our shared commitment to safeguarding the practice of ophthalmology and the patients we serve. During my tenure, I am most proud of our strengthened ties, including reaffirmation of our exclusive AAO sponsorship, commitment to our office space within the Academy’s building, and participation in the creation of the Parke Center, which has improved our technological capabilities and lowered costs for future meetings and events. In recognition of OMIC’s patient safety initiatives and OMIC’s long-term support of ophthalmology, the Academy awarded our company with the prestigious Distinguished Service Award, which I proudly accepted on behalf of our amazing team.

I want to extend my sincere thanks to my fellow board members for their unwavering dedication, wisdom, and collaboration. I am confident that OMIC’s strong governance, reliable leadership, and shared purpose will continue to propel the company forward in the years to come.

I am excited to pass the baton to my colleague, Dr. Robert G. Fante, as Chair of the Board beginning January 1, 2026. I can think of no one more prepared and capable than Rob to lead OMIC into the future.

On behalf of our Board, I would also like to recognize our colleague, Dr. Ronald W. Pelton, who is also reaching the maximum term of service allowed under OMIC’s bylaws at year-end. Dr. Pelton’s influence on our company has been significant to say the least, culminating in his role as Chair of the Finance Committee and Treasurer during some of OMIC’s most impressive financial achievements. During his tenure we outperformed the industry in nearly every benchmark used to evaluate performance for companies such as ours. Another pivotal member of OMIC’s Board, Dr. Christie L. Morse, will assume these roles moving forward.

Finally, thank you, our policyholders, for the incredible opportunity to serve this exceptional organization. It has been one of the great honors of my professional career.

Robert S. Gold, MD

Since its founding in 1987, OMIC has achieved uninterrupted annual growth in its policyholder base. Averaging a 6% increase in insured members each year, OMIC’s expansion is a direct reflection of the trust and confidence ophthalmologists place in our mission and service. This consistent growth across nearly four decades speaks to our steadfast commitment to serving the ophthalmic community with excellence and integrity.

OMIC is the largest insurer of ophthalmologists in private practice in every region of the United States. We have achieved market dominance in 34 states and the District of Columbia, where OMIC insures more than half of all ophthalmologists in private practice. OMIC is also the leader in coverage for alternative structures such as private-equity affiliated ophthalmology. Our commanding market share affirms our reputation as the only carrier that is specialized, reliable, and responsive to the specific medical liability insurance needs for ophthalmologists.

If these caps are overturned or weakened, we can expect a surge in high-dollar verdicts and runaway settlement demands. The result will be rapidly rising malpractice premiums, greater financial strain on practices, and, in some cases, the reduction or elimination of certain services. Ultimately, this would harm both the viability of your practice and the patients who rely on you for care.

Through these partnerships, referrals from our society allies have fueled steady growth, creating economies of scale that allow us to offer lower premiums. To date, OMIC has provided more than $39 million in cumulative premium discounts to society partner members.

As part of this ongoing commitment, OMIC offers a 5% premium discount each year to insureds who are members of one or more partner societies. To ensure you receive your discount automatically, simply update your OMIC profile online to reflect your current memberships.

Our long-standing support for ophthalmic societies continues to strengthen the profession while helping to keep your coverage affordable.

At OMIC, we view our mission in much the same way.

Our goal is to operate with the same clarity of purpose and consistent performance. Insureds expect that their coverage is sound and their company is strong enough to stand by them in moments that matter. This should always be a given. And for us, it is.

Because OMIC’s success is built on deeply embedded discipline and continuous vigilance within our singular specialty, we focus specifically on monitoring risk like dispatchers watching the tracks. We respond to shifts in our landscape with speed and precision, no matter what curves lie ahead. Whether it’s offering timely risk management resources or expert guidance in moments of uncertainty, we strive to be that dependable train pulling into the station exactly when it should.

If OMIC is performing at our best, dependable service becomes a background constant, a foundation you count on without question. And that is precisely how I view the role of our executive team and employees. The crux of our performance revolves around us “keeping the trains running on time,” meaning service to insureds provided by each one of us at OMIC.

On this score, we performed very well again in 2025. Whenever I meet with insureds or brokers, I consistently get very positive feedback about the service they receive. Our surveys of policyholders who have been sued describe high satisfaction rates throughout the claims defense process, which is our most important responsibility.

Because OMIC is an insurance company, it’s vital that it remain financially sound. I am pleased to report that OMIC’s A.M. Best rating was affirmed as “A” Excellent in 2025 with our balance sheet noted as being at the “strongest level.” Our admitted assets, direct written premium, investment and net income, and policyholders’ surplus all increased through mid-year. While claims activity has increased as well, OMIC is well positioned to meet or exceed our major financial benchmark projections by year-end.

At times, there will be obstacles before us on the tracks. When identified, we will slow to clear them from our path. An example of this has been OMIC’s response to the increasing hostility of the legal system toward the medical profession, among others. While ophthalmology remains lower risk than other aspects of medical professional liability, it is not immune. This has resulted in significant increases in the number and cost of claims. Current conditions require that we absorb, and sometimes adjust for, increased claim costs, even as we work diligently to reduce our operating expenses. We have also successfully managed our investment portfolio, allowing us to cover some of the increased claim costs with investment income.

Our team has taken several steps to reduce expenses whenever possible. We’ve streamlined systems, renegotiated contracts, and adjusted our reinsurance, the coverage we purchase in order to protect OMIC, so that we may mitigate impact on your premium while still protecting the company from aberrant losses. While adjustments are still sometimes necessary due to increased costs, fortunately our positive performance from past coverage years allows us to offset the impact by also declaring dividends. In keeping with this commitment, OMIC will implement an average 5.4% rate adjustment, while crediting our physician’s renewal premiums with a 5% dividend. You have my word: we remain committed to returning to you any premium above which is needed to prudently operate OMIC.

Thank you to all insureds and partners for allowing us the privilege to serve you.

Bill Fleming

Our financial position is not the result of short-term gains, but of a long-standing history of organic surplus growth, built steadily over decades. Remarkably, we have achieved this growth while returning substantial dividends to our policyholders, year after year. This is more than a financial accomplishment—it is a demonstration of our commitment to operate in the best interest of our members, sharing the benefits of strong performance rather than retaining them solely for corporate gain.

For OMIC, financial strength is not an abstract metric—is it a promise. It ensures stability, supports competitive premiums, funds a robust defense of claims, and provides the flexibility to navigate future challenges without compromising coverage or service. Our combination of exceptional capitalization, consistent surplus growth, and meaningful policyholder dividends is unmatched in the ophthalmic malpractice insurance industry.

OMIC is supported by a dedicated team whose leadership and expertise strengthen our service to members.