Policyholder Services



Does OMIC offer coverage in Puerto Rico or other territories/countries outside of the US?

OMIC was formed and operates under the federal Liability Risk Retention Act of 1986 (LRRA). While the LRRA applies to all 50 states plus the District of Columbia, it is unclear whether risk retention groups may conduct business under the LRRA’s provisions in US territories or possessions, since they are not specifically included within the LRRA’s definition of “State.” As a United States federal law, other countries are under no obligation to follow the LRRA. In addition, OMIC has limited knowledge regarding foreign legal systems or those of US territories and possessions and has limited access to qualified defense counsel outside of the 50 United States and DC. For these reasons, OMIC offers coverage only for claims brought against Insureds in the 50 United States and Washington, DC.

While OMIC may be able to extend coverage to Insureds for claims brought in the U.S. arising out of services that were rendered elsewhere, it is more likely that claims will be filed in the jurisdiction where services were rendered and/or the patient resides. Therefore, we recommend that physicians who practice in another country purchase coverage from a carrier authorized to do business in that country. If you need assistance in locating an international carrier, please contact an OMIC underwriting representative.

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Six reasons OMIC is the best choice for ophthalmologists in America.

#3. Best at defending claims.

An ophthalmologist pays nearly half a million dollars in premiums over the course of a career. Premium paid is directly related to your carrier’s claims experience. OMIC has a higher win rate taking tough cases to trial, full consent to settle (no hammer) clause, and access to the best experts. OMIC pays 25% less per claim than other carriers. As a result, OMIC’s base rates have consistently averaged approximately 15% lower than multispecialty carriers in the U.S.

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