Policyholder Services

Coverage for Entities and Facilities

In most states, sole shareholder corporations are insured at shared limits for no additional charge. A separate set of limits for your sole shareholder corporation can usually be provided for an additional premium. Physicians who participate in their state’s Patient Compensation or Excess Liability Fund generally must purchase separate limits if they wish to insure their corporation. Download the Entity Application.

Multi-shareholder Corporations and Partnerships

If you are in a multi-shareholder corporation or partnership, entity coverage may be available. Generally, all partners or shareholders should be insured by OMIC for the entity to qualify for coverage, but exceptions may be granted on a case-by-case basis. Upon review and approval of an Entity Application, the entity will be insured at separate liability limits and an additional premium will apply.

Outpatient Surgical Facilities (ASCs, Surgery Centers, Surgical Suites)

Subject to review and approval of an OSF Application, coverage may be extended to ophthalmologist-owned surgery centers, refractive centers, and in-office surgical suites used by outside physicians.  Generally, the limits of liability are shared with the owner ophthalmologist/entity, but separate limits may be purchased.  Depending upon your facility’s ownership, usage, and limits, an additional premium may apply.  Please contact us for details.

Optical Shops

OMIC offers professional and limited premises liability coverage for services rendered at optical shops. Products liability and other general liability exposures, however, are excluded. Download Optical Shop Application. Availability of coverage for optical shops is based on the categories of clientele it serves (e.g. patients of the owner-ophthalmologist’s practice, referrals from other ophthalmologists and optometrists, and walk-ins) and on the composition of its ownership. If the qualified optical shop is not separately incorporated, coverage is automatically included under the policy; no endorsement is necessary. Separately incorporated optical shops must be specifically named on the Declarations page in order for coverage to apply. When approved, the optical shop shares the limits of liability with the owner-ophthalmologist. Because of state patient compensation fund rules prohibiting the sharing of limits, optical shop coverage is not available in Kansas, Nebraska, or Pennsylvania. Due to the limited coverage extended under the OMIC policy, optical shops may wish to purchase a commercial general liability (CGL) or business owners (BOP) policy that includes products liability, general liability, and professional liability coverages under one package policy.