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What liability limits do most insureds carry?

The most common limit of liability, $1,000,000 per claim/$3,000,000 annual aggregate, is carried by approximately 60% of OMIC’s insured ophthalmologists. Nearly 24% carry limits of $2,000,000/$4,000,000 or higher, and close to 10% carry limits of $500,000/$1,500,000 or less.  However, limit preferences vary geographically and by subspecialty.  Physicians in states with patient compensation funds often carry the minimum limits of liability required for participation in the state fund, which vary by state but are generally less than $1,000,000/$3,000,000, and the fund insures losses above that limit.  Limits higher than $1,000,000/$3,000,000 are more common in certain areas of the country, such as the Carolinas, Nevada, and parts of New England. In Virginia, most hospitals require that physicians maintain limits equal to the state’s cap on damages to qualify for staff privileges.  Therefore, nearly all insured physicians in Virginia carry limits of at least $2,450,000/$7,350,000. Physicians in higher-risk specialties such as Anterior Segment, Pediatric Ophthalmology, Retina, and Refractive Surgery are more likely than those in other specialties to carry limits above $1,000,000 per claim, while physicians who specialize in Glaucoma and Neuro-ophthalmology are more likely than those in other specialties to carry limits lower than $1,000,000 per claim.


Updated 11/12/2020

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

Largest insurer in the U.S.

OMIC is the largest insurer of ophthalmologists in the United States and we've been the only physician-owned carrier to continuously offer coverage in all states since 1987. Our fully portable policy can be taken with you wherever you practice. Should you move to a new state or territory, you're covered without the cost or headache of applying for new coverage.