For 13 Straight Years, MPT has maintained its A+ (Superior) Rating
LOS ANGELES, November 26, 2019 – The Cooperative of American Physicians, Inc. (CAP) today announced that the Mutual Protection Trust (MPT), the organization’s core product, has again earned an A+ (Superior) Rating with a Stable Outlook from A.M. Best Company, a global full-service credit rating agency dedicated to serving the financial and healthcare service industries. This marks 13 consecutive years that MPT has achieved this rating.
“We are pleased to have received this affirmation of the exceptional quality of our organization,” said CAP CEO Sarah E. Scher, JD. “Our member physicians rely on the financial strength of MPT in order to conduct their business with peace of mind, which in turn allows them to focus their efforts first and foremost on patient care.”
A.M. Best also acknowledged the financial strength of the Cooperative of American Physicians Insurance Company, Inc. (CAPIC), which earned a rating of A- (Excellent) and was also listed as having a Stable Outlook. CAPIC is a wholly owned subsidiary of CAP and provides reinsurance and other benefits to CAP and its primary medical professional liability partner, MPT.
As part of its grading report, A.M. Best praised MPT for its sound invested asset base and the financial flexibility and capital strength that it maintains. The report also highlights CAP’s “favorable market position in California as the second-largest provider of MPL coverage in the state.”
A.M. Best is the oldest and most widely recognized independent provider of financial ratings and information, with an exclusive focus on the insurance industry. Best’s Credit Ratings are internationally recognized as a benchmark for measuring a rated organization’s financial strength and stability to meet its ongoing financial obligations.
This press release relates to Credit Ratings that have been published on A.M. Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best's Credit Ratings. For information on the proper media use of Best's Credit Ratings and A.M. Best press releases, please view Guide for Media - Proper Use of Best's Credit Ratings and A.M. Best Rating Action Press Releases.
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About the Cooperative of American Physicians, Inc.
The Cooperative of American Physicians, Inc. (CAP), established in 1975, offers medical professional liability protection to some 12,000 of California's finest physicians through the Mutual Protection Trust. In 2013, CAP organized CAPAssurance, a Risk Purchasing Group, to bring liability insurance coverage to hospitals, healthcare facilities, and large medical groups. Based in Los Angeles, CAP also has offices in San Diego, Orange County, Sacramento, and Walnut Creek. For more information, visit www.CAPphysicians.com. CAP is licensed as a California surplus lines broker (License No. 0B72723). The insurance products provided under the CAPAssurance, a Risk Purchasing Group, program are issued by a “non-admitted” or “surplus line” insurer that is not licensed by the State of California.
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