A.M. Best Affirms Superior Rating for the Cooperative of American Physicians’ Mutual Protection Trust
November 26, 2019by
The Cooperative of American Physicians, Inc. (CAP) today announced that the Mutual Protection Trust (MPT), the organization’s core product, has again earned an A+ (Superior) Rating with a Stable Outlook from A.M. Best Company, a global full-service credit rating agency dedicated to serving the financial and healthcare service industries. This marks 13 consecutive years that MPT has achieved this rating.
“We are pleased to have received this affirmation of the exceptional quality of our organization,” said Sarah E. Scher, JD, CAP chief executive officer. “Our member physicians rely on the financial strength of MPT in order to conduct their business with peace of mind, which in turn allows them to focus their efforts first and foremost on patient care.”
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) and was also listed as having a Stable Outlook. CAPIC is a wholly owned subsidiary of CAP and provides reinsurance and other benefits to CAP and its primary medical professional liability partner, MPT.
As part of its grading report, A.M. Best acknowledged MPT for its sound invested asset base 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.”