A.M. Best Reaffirms Superior Rating of the Cooperative of American Physicians’ Mutual Protection Trust
December 16, 2021by
The Cooperative of American Physicians, Inc. (CAP) announced today that the Mutual Protection Trust (MPT), its medical malpractice/professional liability coverage product for California physicians, again earned an A+ (Superior) rating from A.M. Best. This marks the 15th-consecutive year MPT achieved this rating.
As part of its grading report, A.M. Best praised MPT for its financial flexibility and capital strength, sound invested asset base and ability to access capital. The report also highlights CAP’s “strongest level of risk-adjusted capitalization and favorable market position in California as the second-largest provider of MPL coverage in the state.” It further cited CAP’s company culture that is focused on enterprise risk management and strong internal controls.
“For 15 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,” said Sarah Scher, CAP chief executive officer.
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 CAP and its primary medical professional liability partner, MPT.