Policyholder Services

How are premiums determined?

OMIC charges those premiums determined necessary to cover current and anticipated policyholder losses and to maintain financial stability. Independent actuaries evaluate OMIC’s actual loss experience data and the loss experience data for ophthalmology from other carriers throughout the nation and calculate recommended premiums for ophthalmologists by scope of practice and location accordingly. These recommendations are then reviewed and voted upon by our Board of Directors, which is made up of practicing ophthalmologists.

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

#1. Consistent return of premium.

Publicly-traded insurance companies exist to make profits for shareholders while physician-owned carriers often return profits to their policyholders. Don’t underestimate this benefit; it can add up to tens of thousands of dollars over the course of your career. OMIC has one of the most generous dividend programs for ophthalmologists and has returned more than $20 Million to our members through dividends.