The Cooperative of American Physicians, Inc. (CAP) today announced that the Mutual Protection Trust (MPT), the organization’s core product, has earned another 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 is the 14th year running that the organization has achieved this distinction.
A.M. Best also affirmed the Cooperative of American Physicians Insurance Company, Inc. (CAPIC) as A- (Excellent), also with 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 recognized MPT’s strongest level of risk-adjusted capitalization, financial flexibility, and favorable market position in California as the second-largest provider of physician MPL coverage in the state. The report also recognized the framework and capabilities of the enterprise risk management program that is “managed both holistically and individually, for MPT, CAP, and CAPIC, with engagement from senior management and the board of trustees and directors.”
A.M. Best is the oldest and most widely recognized independent provider of financial ratings and information, with an exclusive focus on the insurance industry. Best’s Credit Ratings are internationally recognized as a benchmark for measuring a rated organization’s financial strength and stability to meet its ongoing financial obligations. Visit www.ambest.com for more information.
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