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What is the Academy’s role with respect to OMIC?

In the mid 1980’s, when ophthalmologists around the country voiced their concern over extremely high rates charged by other insurance carriers, the American Academy of Ophthalmology responded by helping to create an independent insurance carrier, OMIC, to write professional liability coverage exclusively for its members. Although the Academy sponsors OMIC in this role and many of OMIC’s Board members are or have been active in voluntary capacities with the Academy, OMIC operates as a separate and independent company. OMIC, not the Academy, is solely responsible for all insurance and business decisions, including coverage, underwriting, claims, and defense decisions.

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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.

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