2022 OMIC Members Report
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OMIC Members Report | 2022
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2018 Members Report
We recently published our 2018 Members Report. Policyholders should receive their copy within a few weeks. Our specialty and our industry are changing fairly rapidly. We discuss your company’s leadership in an unsteady environment.
In this report:
MESSAGE FROM THE CHAIR George Williams, MD discusses the changes occurring in our specialty.
MESSAGE FROM THE CEO Tim Padovese celebrates another stand-out year by announcing some big news.
FINANCIAL HIGHLIGHTS Robert Wiggins MD highlights two OMIC financial and operational metrics that show our superior performance compared to multispecialty carriers.
2017 Members Report
OMIC’s 2017 Members Report was mailed to insureds in October. If you did not receive your copy or would additional copies, contact us at omic@omic.com.
In this report:
MESSAGE FROM THE CHAIR George Williams, MD discusses the effect of big data on our specialty.
MESSAGE FROM THE CEO Tim Padovese celebrates 30 years of OMIC service by announcing some big news.
FINANCIAL HIGHLIGHTS A 30-year look at OMIC financial and operational successes.
2016 Members Report
It was the summer of 1985 and all the national television networks were there. You could hear the cameras clicking and the whir of their motors grinding away. Before a committee of the House of Representatives a hesitant man leans forward and begins to speak. Amazingly, nearly every seat facing him was empty. This is the way Congress works. Representatives appear before the lenses in this room to make speeches to constituents back home. They are gone before the testimony they’ve requested from the man begins.
(Click on image to read rest of Message from the Chair…)
The Members Report
Excerpt from 2015-2016 Members Report…
“We have some really great news. OMIC is experiencing another year of positive operating performance, one of our best years ever. From year-end 2013 through June 30, 2014, admitted assets grew by more than $6 million to a total $266 million and policyholder surplus grew by more than $10 million to a total $174 million. OMIC is forecast to record a net increase in policyholders in 2014—a goal we have achieved every year we’ve been in business. In recognition of these achievements and OMIC’s continued favorable claims trends, your Board of Directors has extended current rates through your 2015 policy period and will initiate significant rate decreases in 2016. The Board also declared a 20% dividend for all physician-insureds active on December 31, 2015, to be applied to 2016 renewal premiums.”
OMIC’s 2015-2016 Members Report was mailed to insureds in early November. If you did not receive your copy or would additional copies, contact us at omic@omic.com.
In this report:
MESSAGE FROM THE CHAIR Tamara Fountain, MD discusses OMIC’s strategic plan.
REINSURANCE Learn about OMIC’s reinsurance program.
UNDERWRITING PHILOSOPHY Ray Fontenot, VP Underwriting and Betsy Kelley, VP Product Management describe OMIC’s position on managing risk.
MESSAGE FROM THE CEO Tim Padovese examines the value of debate and the art of good leadership.
FINANCIAL HIGHLIGHTS National awards and recognition for OMIC’s superior financial stewardship are featured.
