Policyholder Services

How often does OMIC revise its policy?

OMIC routinely evaluates its policy provisions and makes changes whenever warranted. The professional and limited office premises liability policy was thoroughly revised effective January 1, 2007, to present a more reader-friendly document that better explains what the policy covers. It was revised further effective January 1, 2009, and January 1, 2010, as a result of insured feedback, changes in industry standards, ophthalmic practice developments, and to comply with applicable state and federal laws.

OMIC updated several provisions of its professional and limited office premises liability policy effective January 1, 2012. Some of the changes were necessary for compliance with applicable state and federal laws. Others reflected OMIC’s revised underwriting guidelines on several issues such as medical spas and ROP. OMIC further enhanced its broad regulatory protection and added eMD™ cyber liability coverage as an additional benefit. Additional enhancements to its broad regulatory protection and  eMD™ cyber liability coverage were incorporated effective September 1, 2013.

In 2015, OMIC made further changes to the policy.  The coverage for Broad Regulatory Coverage and eMD™ Protection increased to $100,000.  In accordance with changes in federal law, the Terrorism Insurance Coverage Endorsement was revised .  Furthermore, OMIC expanded the scope of services permitted in each of the coverage classifications.

When the policy is revised, changes that restrict coverage do not take effect until the insured’s renewal date. Benefits added to the policy, however, take effect immediately.


Updated 8/14/2015

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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.