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THE OMSNIC STORY

 

Did you know OMSNIC is the only OMS professional liability carrier owned and operated by its OMS policyholders? That gives us a unique perspective on how to structure protection for your practice that truly meets your needs. Read on for some background on how AAOMS and its OMS members came together to create a company tailor-made to provide insurance protection for our profession.

 

1987

AAOMS Committee on Professional Liability and Insurance reviews concept of OMS-owned and operated professional liability carrier and recommends formation of AAOMS Mutual Insurance Company, with the objective of having OMS control their professional liability destiny.

 

1988

AAOMS Mutual is endorsed exclusively by AAOMS. AAOMS provides initial capital loan and guarantees a letter of credit. AAOMS Mutual begins writing policyholders April 12, 1988.

 

1989

Demonstrating the commitment and buy-in of the OMS community, AAOMS Mutual insures 1,000th policyholder.

 

1992

AAOMS Mutual converts from a mutual carrier to a stock-form insurer, with policyholders as the only stockholders. This provides a return on investment with appreciation for insureds, at the time of retirement, disability or death.

 

1994

First Defense Counsel Seminar held. Provides OMS clinical training to attorneys around the country; also allows sharing of successful defense tactics to enable them to do the best job defending OMS claims. Now held every other year.

 

1997

Fortress Insurance Company formed as wholly owned subsidiary to provide professional liability insurance for dentists; provides additional investment income to increase overall profitability.

 

2001

A.M. Best issues AAOMS National an "A" (Excellent) rating, recognizing the financial stability of the company. AAOMS National changes name to OMS National Insurance Company, RRG (OMSNIC).

 

2008

Combined, OMSNIC and Fortress Insurance Company represent the largest dental malpractice carrier in the country.

 

2010

OMSNIC achieves an 80+% national Market Share.

 

2011

Fortress Insurance Company tops 14,000 policyholders.

 

2012

e-Learning Center introduced; interactive risk management courses available on demand at www.omsnic.com.

 

2013

OMSNIC will celebrate its 25th year of operation.

 

 

 

 

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©2012 OMS National Insurance Company