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Why should you use OAMIC?

As an attorney, your primary focus is your clients and their needs.  Yet with the realities of today’s world, attorneys will probably find themselves responding to an allegation of malpractice or omission at some point in their career.  These claims, with or without merit, require investigation and defense – expensive burdens you may not be able to shoulder alone.

Professional liability insurance coverage protects you with an experienced local team offering guidance, legal support and financial protection.  More than three-quarters of Oklahoma attorneys in private practice carry professional liability insurance because it makes good business sense.

Your decision to protect your reputation, assets and your clients interest is important.  Many businesses, such as those in banking, insurance and attorney referral services, now require attorneys to have professional liability insurance policy.  Attorneys are personally liable for their mistakes – mistakes that can happen to anyone, and professional corporations and limited liability partnerships do not completely protect individual attorneys from liability.

Oklahoma Attorneys Mutual Insurance Company, (OAMIC), is the only insurance company created, owned and controlled by Oklahoma lawyers.  Unlike other insurers, OAMIC’s sole focus in Oklahoma attorneys and their needs.  OAMIC has professional liability insurance with special premiums and payment plans for new attorneys facing start-up costs of a practice.  As a policy holder of OAMIC, you are an owner of the company.

OAMIC OFFERS YOU:

  • Competitive coverage terms and premiums
  • Risk management services to reduce your malpractice exposure
  • Diligent defense and protection of your reputation
  • Impressive malpractice claims results:
    • Historically more than 50% claims closed without any settlement paid
    • Historically more than 30% claims closed without outside defense costs or indemnity payments
  • Staff with a high level of expertise
  • Easy access to staff by phone, email or in-person meetings
  • Online applications and forms
  • 24-hour turnaround on policy quotes

OAMIC DIFFERENTIATORS:

  • Growth: steady since the formation in 1980
  • Ownership: as a ‘member’ of the mutual company, you have an ownership interest
  • Dividends: more than $20.7 million distributed since 1994
  • Strength: more than $49 million in assets
  • Numbers: 4,800 attorneys and 2,200 firms insured

ADDITIONAL PROTECTION FOR YOUR BUSINESS:

  • Property
  • Liability
  • Commercial Auto
  • Personal Property
  • Equipment Breakdown
  • Valuable Papers and Records
  • Computers and Media
  • Employee Dishonesty and Forgery
  • Workers’ Compensation

EASY, ONLINE APPLICATION FOR COURT BONDS:

  • Probate
  • Appeal
  • Replevin
  • Injunction
  • Lost Instrument
  • Notary

OAMIC offers policyholders continual risk management services through seminars, newsletters and online tips:
RISK MANAGEMENT
TECHNIQUES THAT SAVE
YOU MONEY:

  • Computerized database of clients for conflicts screening
  • Second partner review of decisions to sue for fees
  • A designated risk management partner or committee
  • Standard client intake form
  • Computerized calendaring   

FOLLOWING THE PAPER
TRAIL – YOUR FILES ARE
YOUR BEST DEFENSE

  • Document all consequential advice in a letter, especially if the client intends to follow a different course of action
  • Ask clients to sign all settlement offer rejections
  • Keep copies of engagements, non-engagement and disengagement and fee agreements
  • On less important matters should be noted in memos for your files