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.