Oklahoma Attorneys Mutual Insurance Company was founded in 1980 after a need for the company became clear to members of the Oklahoma Bar Association.

In the late 1970s, the number of attorneys in the state of Oklahoma was increasing, but access to legal malpractice insurance was shrinking. This caused gaps in coverage, fluctuating rates, and a lack of quality customer service. To solve this problem, a group of Oklahoma Bar members banded together to form the then-called Oklahoma Bar Professional Liability Insurance Company. The first policy was sold in November of 1980.

Today, OAMIC insures more than 5,000 Oklahoma attorneys at more than 2,300 firms across the state. We also offer a variety of ancillary products that are specific to the needs of Oklahoma attorneys, including court bonds, cyber liability, office package policy, and more. READ MORE >>>

Letter from the President


What a crazy year 2020 turned out to be. Yet, with all the uncertainty that seemed to grow as the year went on, it turned out to be a very good financial year for OAMIC. It was such a big improvement over the past 4 or so years that it made me question the credibility of the results. Claims were down in the number of open claim files and in both the number of new claims and average severity. Was all of this influenced by the days when everyone was “sheltering in place,” or was it influenced by the decrease in client meetings, courthouses being open, and fewer legal matters being completed? I am not sure anyone can answer those questions right now, but we will be able to in time.

The dividend for 2020 was $900,000, making the total paid to policyholders over 27 consecutive years more than $33 million and doubles what was paid in each of the last two years. The $900,000 is approximately a 10% dividend on the premium for limits up to and including $1M/$1M.

Dividends declared by the Board of Directors are based largely on the annual underwriting gain/(loss). What is known as underwriting profit or loss can be thought of as the money made or lost from operations. It does not include investment income and is before any taxes. Financial solvency – as well as high marks from independent rating organizations – depends on sufficient capital base, stable loss reserve development, and a profitable long-term trend line that protects capital (also called “policyholder surplus”). As you can see from the following chart, we needed the very profitable underwriting year to turn the tide of a few years of operational losses.

Most important to the health of an insurance company is the policyholder surplus, which most any other business would call “retained earnings.” For the first time ever, OAMIC’s policyholder surplus jumped over $40 million. We have experienced slight but steady growth in this area over several years. In years past, this was aided by investment income. However, we know how potentially volatile and tough it has been on the investment side, especially in the fixed-income area where rates are lower than normal.

We truly appreciate the opportunity to work for you, our insureds! Thank you for your loyalty and for your trust and confidence. We look forward to continuing to serve you in 2021 and beyond.


By The Numbers


Years Old

Oklahoma attorneys have relied on OAMIC for more than 4 decades.


Firms Insured

We insure more than 2,300 firms in the state of Oklahoma.


Attorneys Insured

More than 5,000 attorneys across the state rely on OAMIC.


Retention Rate

Over the last 10 years, OAMIC has maintained a 95% retention rate.


Paid to Policyholders

We just distributed our 27th consecutive dividend to policyholders.


Financial Rating

Demotech’s A Double Prime rating is the highest available.

Financial Overview

Balance Sheet

Income Statement

Policyholder Surplus

Company Officers

Phil Fraim

President & CEO

Phil has been at OAMIC since 1989 and has served as President and CEO since 1993. He is past-President of the National Association of Bar Related Insurance Companies (NABRICO) and currently serves as Secretary of the organization. He also serves as Secretary of the Bar Plan Surety & Fidelity Company, is a board member of the National Association of Mutual Insurance Companies (NAMIC), and is also a member of the Professional Liability Underwriting Society (PLUS). Phil has a Bachelor’s degree from Central State University (now the University of Central Oklahoma) and is Chair of the Edmond Economic Development Authority.

Issac Fraim

Vice President, Director of Operations

Mr. Fraim has served as the vice president, director of operations since January 2019. He has worked at the Insurer since November 2005, first as the director of information technology. Then, as a licensed insurance producer, he became assistant vice president, underwriting, and information technology of the Insurer in October 2012. Mr. Fraim was with Advanced Financial Solutions from January 2003 to November 2005, serving as a product manager.

Alison Cave

Senior Vice President, Claims

Alison A. Cave. Ms. Cave serves as senior vice president of claims for the Insurer. She received her J.D. from the University of Oklahoma College of Law in 1985, where she was a member of Phi Delta Phi. Ms. Cave was a law clerk with the Oklahoma Supreme Court and Court of Civil Appeals. She has taught legal research and writing and appellate advocacy as an adjunct professor at Oklahoma City University. Ms. Cave was an associate with Steidley & Neal from 1996 to 1999, an associate with Driskill & Jones from 2001 to 2006, and was a solo practitioner from 2006 to 2008 before joining the Insurer in 2008.

Carolyn Smith

Vice President, Claims

Ms. Smith serves as vice president of claims. She was with Dewitt, Paruolo & Meek for more than 10 years before joining the Insurer in 2019. She earned her undergraduate degree from Purdue University in West Lafayette, Indiana, where she graduated with honors. She then attended law school at the Indiana University Robert H. McKinney School of Law and earned her J.D. after serving as an intern at the Indiana Supreme Court.

Board of Directors

J. Angela Ables

Oklahoma City

Ms. Ables graduated from East Central University with honors in 1972 and Oklahoma City University School of Law in 1975. She worked in the Washington, D.C., office of U.S. House of Representatives Speaker Carl Albert before joining the staff of the Office of the Oklahoma Attorney General where she worked for 6 years. After serving as an assistant attorney general, she went to the Oklahoma insurance commissioner’s office where she served as the deputy insurance commissioner for 5 years before leaving to join the law firm of Kerr, Irvine, and Rhodes in 1985. In 1988, she became a partner in the firm. The name was changed to Kerr, Irvine, Rhodes & Ables and she has served as president of the firm since 1999. Ms. Ables serves as a board member of the Oklahoma High-Risk Pool, chair of the Oklahoma Bar Association Group Insurance Committee, and director emeritus of Lyric Theatre. She is a member and former chair of the board of the Federation of Regulatory Counsel, a nationally recognized regulatory law organization.

David A. Burrage


Mr. Burrage graduated from the University of Oklahoma College of Law in 2002 and is the lead attorney at Burrage Law Firm in Durant. He has served as the vice president of the Bryan County Bar Association and council member for the City of Durant. He is currently an associate bar examiner and a member of the Oklahoma Turnpike Authority. Mr. Burrage also serves as a judge for the Choctaw Nation.

Benjamin J. Butts

Oklahoma City

Mr. Butts graduated from the University of Oklahoma College of Law in 1983. He practiced at what eventually became Short Wiggins Margo & Butts for 22 years before forming Butts & Marrs, where he has practiced since 2006. He was a member of the Federation of Defense and Corporate Counsel from 1992 to 2005, a member of the Oklahoma Bar Association Rules of Professional Conduct Committee from 1996 to 2002, president of the American Board of Trial Advocates in 2011, president of the William J. Holloway Jr. American Inn of Court in 2012 and 2013 and was chair of the Local Civil Rules Committee for the U.S. District Court, Western District of Oklahoma, from 2010 to 2014. Mr. Butts is a fellow of the American College of Trial Lawyers and a member of the Litigation Counsel of America.

Philip Eller


Mr. Eller has practiced law since 1976 and is an officer, director, and shareholder of the law firm of Eller & Detrich, PC in Tulsa, Oklahoma. He has previously served as an adjunct professor of law at the University of Tulsa and as an adjunct settlement judge for the District Court of Tulsa County. He has also served on the Tulsa County Bar Association Grievance Committee and as a director and president of the University of Tulsa Golden Hurricane Club and the Sooner Chapter of the Cystic Fibrosis Foundation. Additionally, Mr. Eller is a former director, vice chair and general counsel of the Tulsa Metro Chamber of Commerce. He currently serves as a trustee and chairman of the Tulsa Industrial Authority and as a director of i2E, Inc. Mr. Eller has previously served as chair of the Insurer Board.

Simone G. Fulmer

Oklahoma City

Ms. Fulmer is a litigator at The Fulmer Group, working primarily in insurance coverage and bad faith litigation, and class actions. She is admitted to the bar in all Oklahoma state and federal courts and the 10th Circuit Court of Appeals. Ms. Fulmer is a member of the Oklahoma Association for Justice, American Association for Justice, Oklahoma Bar Association, and Oklahoma County Bar Association. She has taught on insurance and bad faith litigation in Oklahoma and nationally. Prior to joining Mr. Whitten in 1998 representing policyholders in all types of insurance matters, she worked as an attorney for Globe Life & Accident Insurance Company. As a law student, she was a pupil of the Luther Bohanon American Inn of Court from 1995 to 1996. The University of Oklahoma College of Law honored her in 1995 with an Academic Achievement in Trial Techniques award and in 1996 she was honored as a member of the Order of Barristers. Ms. Fulmer graduated cum laude from Oklahoma Baptist University and received her J.D. from the University of Oklahoma College of Law, graduating with distinction. She is on the boards of Oklahoma Lawyers for Children and Oklahoma Association for Justice and is involved in IMPACT Oklahoma.

James Hicks


Mr. Hicks practices in Tulsa with the firm Barrow & Grimm PC. His focus is on the litigation and transactional needs of individuals and businesses. He also represents clients in probate, estate planning, and family law matters. He attended OU and obtained a B.A. in finance before attending the TU College of Law. Admitted to practice in 1985, he served as a member of the OBA Board of Governors from 2015 to 2019. He also served as president of the Tulsa County Bar Association from 2013 to 2014 and of the Tulsa County Bar Foundation from 2017 to 2019. He has been recognized as an outstanding young lawyer by the TCBA and received the TCBA President’s Award. In 1995, he was recognized as an outstanding young lawyer by the OBA.

Cody B. Hodgden


Mr. Hodgden has practiced law since 1995 and is a partner in the Hodgden Law Firm in Woodward. He previously served as president of the Woodward County Bar Association and as chair of Woodward County Law Day and the Boiling Springs Legal Institute. Mr. Hodgden served on the Oklahoma Bar Association Professional Responsibility Tribunal from 2007 to 2013 and on the boards of Woodward Industrial Foundation, Woodward Education Foundation, Woodward Health Services Foundation, and MidFirst Bank Advisory Board.

James A. Jennings

Oklahoma City

Mr. Jennings graduated from the University of Oklahoma College of Law in 1974. Mr. Jennings spent more than 3 years as an assistant district attorney in Oklahoma County. He then entered private practice, remaining with the firm ultimately known as Holloway Dobson Bachman & Jennings for 23 years. In 2000, Mr. Jennings formed Jennings Cook & Teague, where he remains in practice. He is a member of the Oklahoma Bar Association, Oklahoma County Bar Association, and American Bar Association. He is a member of the Defense Research Institute, International Association of Defense Counsel, and a sustaining member of the Product Liability Advisory Council. He is also a fellow of the Litigation Counsel of American Trial Lawyers Honorary Society and an associate of the American Board of Trial Advocates. He has been named an Oklahoma Super Lawyer for 2006, 2007, and 2008. He is AV-rated by Martindale-Hubbell. Mr. Jennings serves as a member of the board of directors of the Chickasaw Banc Holding Co. and Bank2.

Michael C. Mayhall


Mr. Mayhall has practiced law since 1975 and is a shareholder of Godlove, Mayhall, Dzialo, Dutcher & Erwin, PC in Lawton. He served on the Oklahoma Bar Association Board of Governors from 1990 to 1992, as 1988 president of the Comanche County Bar Association, as vice president of the Oklahoma Bar Association in 1998, and as a former trustee on the Board of Trustees of the Oklahoma Bar Foundation. Mr. Mayhall has served on several Oklahoma Bar Association committees including serving as chair of the Taxation Section in 1980. He is also a certified public accountant.

W. Chad McLain


Mr. McLain is a founding member of the law firm Graves McLain PLLC in Tulsa. He served as the president of the board of the Oklahoma Association for Justice and Tulsa Lawyers for Children, a nonprofit organization providing legal services to deprived children through the Tulsa County juvenile court system. He is on the board of the Tulsa County Bar Foundation and previously served as chair of the capital campaign to revitalize the Tulsa County Bar Center. Mr. McLain has held leadership positions within the Tulsa County Bar Association and Tulsa County Bar Foundation for many years, including chair of the Law Week, Community Outreach, and Bench & Bar committees and chair of the Pro Bono Celebration. He is past president of the Board of Governors for the Summit Club and past president of the Board of Directors for the University of Tulsa Golden Hurricane Club.

Richard D. Nix

Oklahoma City

Mr. Nix has practiced in the field of employee benefits and executive compensation law since 1985 and previously served as the managing director of McAfee & Taft. He is a member of the Oklahoma County, Oklahoma, and American bar associations and the Oklahoma City Employee Benefits Conference. He has served as secretary/treasurer with the IRS Midstates EP/EO Council and on the Board of Directors of Southwest Benefits Association. Mr. Nix currently serves on the boards of YMCA of Greater Oklahoma City and Calm Waters, Inc. and on the Board of Trustees for the Oklahoma City National Memorial Foundation and OU Medical Center.

Philip R. Richards


Mr. Richards graduated from the University of Oklahoma College of Law in 1983 and, after a year as a Stephens County assistant district attorney, has spent his career in Tulsa as a civil trial lawyer primarily representing businesses and insurers in state and federal courts throughout Oklahoma. In 1997, he formed the firm that is now Richards & Connor. He is admitted to practice before all Oklahoma trial and appellate courts, all federal district courts in Oklahoma, the 10th Circuit Court of Appeals, and the U.S. Supreme Court. He served as president of the Oklahoma Association of Defense Counsel and is a master emeritus of the Hudson-Hall-Wheaton Chapter of the American Inn of Court and a member of the Federation of Defense and the Corporate Counsel and a fellow of the American College of Trial Lawyers, having served as Oklahoma state chair. He has taught continuing education and authored papers on insurance coverage, bad faith litigation, trial practice, and constitutional jurisprudence. Published decisions in cases he has handled include matters of insurance coverage, bad faith liability, ERISA, medical malpractice, governmental liability, tort liability and commercial litigation. He is listed in The Best Lawyers In America, Oklahoma Super Lawyers (Top 50, 2006-present; Top 10, 2011-present) and a Top Lawyer in Financial Services by Corporate Counsel magazine.

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