Risk Management

5 Things We’re Thankful for…

Things we’re thankful for…

1. Our Policyholders. OMIC is nothing without your continued support of our program. Thank you for making us the largest insurer of ophthalmologists in America. But most of all thank you for continuing to put your trust in OMIC to defend your practice of ophthalmology and your professional reputation. We believe that our policyholders are happy based on our retention rate of over 97% during the past decade. We strive to be a partner with you for your entire career. Please engage with us and let us know how we are doing. Thank you for your feedback on how we are doing and how we can do better.

2. Our Sponsor. Here’s to the Academy! The American Academy of Ophthalmology is the largest and most influential association of eye physicians in the U.S. and OMIC is proud to be the exclusive sponsored and endorsed carrier for Academy members. Like the Academy, our mission is to advance the professional interests of ophthalmologists and improve eye care for the public. We value our partnership with AAO in continuing collaborative efforts to improve patient education and reduce medical errors and in providing a stable defense of the specialty and competitively priced premiums for Academy members.

3. Our Partners. Thank you to all of the state, subspecialty, and special interest society partners with whom we have an educational alliance. Since 1996, when our first cooperative venture was formed with AAPOS, we’ve worked together to get important information to society members and have lowered the cost of insurance for OMIC insureds by nearly $10 Million! Thank you to all of our advisors including our actuary at Towers Watson, our investment gurus at Prime Advisors, or brokerage team at BMS, and our entire reinsurance team through Lloyds of London. Thanks also to NAS/Lloyds and Marsh Affinity for providing Academy members with any insurance products not offered through OMIC. Did we miss anybody?

If you’re not a member of your state, subspecialty or special interest ophthalmic society join today! Click here for links to your society. The OMIC discount will probably pay your dues with money left over and you will be supporting and defending your specialty in so many ways.

4. Our Community. OMIC understands that we are not able to insure everyone. We must carefully and diligently manage the risks assumed by our company so that we are here to service the Academy membership for many years to come. Some universities and hospitals self-insure their entities and physician employees and are not in the private insurance market. We do, however, thank all non-OMIC-insured ophthalmologists for continuing to engage with OMIC so that, should circumstances change we may someday be your first call when you need to initiate coverage. We will continue to make most or all OMIC patient consent documents and resources available to the entire ophthalmic community in support of U.S. eye health and reserve OMIC hotline consultations for policyholders.

and finally…

5. Our Employees. OMIC is truly unique within our industry with regard to employee longevity. Many of our employees have been with us for 20 years or more, and the first employee ever hired remains with us today. We thank our employees and Board and Committee members for their loyalty and countless hours of dedication year after year, many times encroaching into their personal time, and often apart from family and friends during meetings and conferences. We know their efforts to serve our members is often acknowledged but sometimes goes unnoticed. We would like to take this moment to say thank you for everything you do to improve the lives of our policyholders and their patients.