LOS ANGELES, Jan. 30, 2025 (GLOBE NEWSWIRE) -- The Cooperative of American Physicians, Inc. (CAP) announced that AM Best has reaffirmed its A+ (Superior) rating for the Mutual Protection Trust (MPT). MPT provides medical malpractice coverage to 13,000 physicians, making it California's second-largest provider of medical professional liability coverage.
Since 2006, MPT has earned AM Best's A+ (Superior) rating and has consistently been recognized for "maintaining the strongest level of risk-adjusted capitalization.” AM Best acknowledges MPT's stable base rate assessments, low claims frequency, proactive loss management programs, and disciplined underwriting practices as key factors contributing to this notable rating.
"As we celebrate CAP's 50th anniversary this year and reflect on our accomplishments over the past five decades, this continued recognition by AM Best is particularly significant,” said CAP Chief Executive Officer Sarah Scher. "It underscores our collective commitment to providing our independent physician members with the most financially stable coverage, along with exceptional risk management services that support their ability to run safe and successful practices.”
Additionally, AM Best has issued an A- (Excellent) rating for Cooperative of American Physicians Insurance Company (CAPIC). CAPIC, a wholly owned subsidiary of CAP, specializes in medical malpractice coverage tailored for large medical groups and provides reinsurance and various benefits for CAP and MPT. AM Best emphasized CAPIC's increase to a Financial Size Category of VII, indicating enhanced financial strength for its policyholders and reinforcing its position as a trusted and reliable insurance provider.
AM Best is the oldest and most widely recognized independent provider of financial ratings and information, focusing exclusively on the insurance industry. AM Best's credit ratings are internationally recognized and summarize an organization's ability to pay claims, debts, and other financial obligations in a timely manner. For more information on AM Best and its rating criteria, visit www.ambest.com.
About the Cooperative of American Physicians, Inc.
The Cooperative of American Physicians, Inc. (CAP), established in 1975, offers superior medical professional liability coverage to California's finest physicians through the Mutual Protection Trust (MPT). Cooperative of American Physicians Insurance Company (CAPIC), an Arizona-domiciled surplus lines insurance company, provides medical professional liability coverage to large medical groups and is a non-admitted insurer. CAP supports its members through offices in Los Angeles, San Diego, Orange County, and Walnut Creek. CAP is licensed as a California surplus lines broker (License No. 0B72723). For more information, visit www.CAPphysicians.com.
Contact: Ernest Khirallah
213-473-8737
