Policyholder Services

What other discounts are available?

OMIC offers three other discount programs to its members: a risk management discount, a loss free credit, and a group discount.

(1) OMIC offers a 5% risk management discount to physicians who have participated in an OMIC-sponsored risk management program within the 12 months prior to their policy effective date.  OMIC provides many opportunities for physicians to qualify for this discount, including risk management seminars, audio conferences, recorded audio programs available on CD and home study courses.  As a general rule, only one risk management discount can be applied per policy period. 

Members of partner state or subspecialty ophthalmic societies having a special cooperative relationship with OMIC may qualify for a supplemental risk management discount by participating in a jointly sponsored risk management activity.

(2) OMIC also offers a loss free credit for physicians who have been insured for at least two years without any indemnity payments. Pending claims or claims that close without indemnity do not affect your eligibility for this discount. Discounts range from 3% to 5%, depending on the number of years you are insured without a loss.

(3) Group discounts may be extended to qualified groups of 3 or more physicians. The amount of the discount is based upon the group’s size, risk management participation, and favorable loss experience, among other factors.

Risk management, loss free, and group discounts can apply concurrently, and the combination of discounts could significantly reduce your insurance premiums.

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

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 $90 Million to our members through dividends.