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.