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Rates and Dividends

It is hard to imagine how OMIC’s bottom line could be stronger. Our surplus position is arguably the best in the industry. A premium-to-surplus ratio of .19 to 1 is almost unheard of historically. At the same time, OMIC’s rates in the vast majority of the U.S. are significantly lower than our competitors and our average dividend returns during the past decade have averaged nearly three times higher than the industry.

We are able to achieve these results primarily due to our better defense of claims, lower relative operating costs, superior investment returns, and your continued support of our company. Due to OMIC’s continued healthy balance sheet, I am pleased to report that current insurance rates will be extended through 2019 in all states and territories and your Board has approved another significant policyholder dividend to be paid in 2019, equal to 15% of your 2018 annual premium.

2017 Dividend
Declared dividend was 19.8% of earned premium (vs. 5.7% for industry).
(approx $8 Million)

Cumulative Dividends
5 Year 77.7% 10 Year 181.5%

Tim Padovese
OMIC President and CEO

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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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