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, live 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 participating 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.

#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.