A.M. Best Affirms A+ (Superior) Rating of the Cooperative of American Physicians’ Mutual Protection Trust for 16th Consecutive Year

February 3, 2023 by matray

The Cooperative of American Physicians, Inc. (CAP) announced that its medical professional liability coverage product, the Mutual Protection Trust (MPT), has earned a Financial Strength Rating of A+ (Superior) from A.M. Best for the 16^th consecutive year.

Among several notable acknowledgments, A.M. Best recognized MPT’s “cost-effective medical professional liability services,” with a “favorable market position in California as the second-largest provider of physician professional liability coverage in the state.”

The rating reflects MPT’s ability to meet ongoing coverage and contract obligations for more than 12,500 of CAP’s physician members. MPT’s outlook was reaffirmed as stable and its strong financial flexibility, capital strength, and sound invested asset base were highlighted as part of the rating.

“Since 2006, MPT has received an A+ rating from A.M. Best, a demonstration of our ongoing prudent financial oversight and strength on behalf of our physician members and their practices,” said CAP CEO Sarah E. Scher. “As so many California physicians recognize and rely upon MPT’s protection, CAP continues to experience significant growth.”

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). CAPIC is a wholly owned subsidiary of CAP and provides reinsurance and other benefits to its physician members.