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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.

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 a 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 has consistently maintained lower base rates than multispecialty carriers in the U.S.