MPT has maintained its A+ Rating for Twelve Straight Years
LOS ANGELES, October 31, 2018 – The Cooperative of American Physicians, Inc. (CAP) today announced that the outstanding financial strength of its core product, the Mutual Protection Trust (MPT), has again earned an A+ (Superior) Rating from A.M. Best Company, a global full-service credit rating agency dedicated to serving the financial and healthcare service industries. This marks the twelfth consecutive year MPT has achieved this rating.
As part of its grading report, A.M. Best praised MPT for its sound invested asset base, ability to access capital at any time via member assessments, 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.”
“For 12 years now, our MPT product has earned an A+ Rating from A.M. Best, a testament to the collective efforts of a team that is committed to supporting its physician members and their financial health in the most effective way possible,” says CAP CEO Sarah Pacini.
At the same time, A.M. Best acknowledged the financial strength of the Cooperative of American Physicians Insurance Company, Inc. (CAPIC), which earned a rating of A- (Excellent). CAPIC is a wholly owned subsidiary of CAP and provides reinsurance and other benefits to CAP and its primary medical professional liability partner, MPT.
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 of measuring a rated organization’s financial strength and stability to meet its ongoing insurance policies, contracts and financial obligations across more than 80 countries worldwide.
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) has supported California’s best physicians for nearly 40 years with outstanding medical professional liability coverage through the Mutual Protection Trust, an interindemnity arrangement organized under Section 1280.7 of the California Insurance Code. In addition to superior medical malpractice protection, CAP provides comprehensive risk and practice management resources to nearly 12,000 California doctors.
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 Palo Alto. 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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