SOURCE: Cooperative of American Physicians, Inc

Cooperative of American Physicians, Inc

October 23, 2013 14:18 ET

Cooperative of American Physicians Programs Earn Top Marks

A.M. Best Company Rates MPT Product "Superior"; CAPIC "Excellent"

LOS ANGELES, CA--(Marketwired - October 23, 2013) - The medical professional liability companies sponsored by the Cooperative of American Physicians, Inc. (CAP) have again received excellent financial strength ratings from A.M. Best Company.

For eight consecutive years, the Mutual Protection Trust (MPT) has earned Best's A+ (Superior) rating, while the Cooperative of American Physicians Insurance Company, Inc. (CAPIC) has earned its fourth A- (Excellent) rating in a row. Both companies have a Stable outlook.

CAP's Chief Executive Officer James L. Weidner says, "We are proud that A.M. Best Company has recognized the exceptional strength of CAP's MPT and CAPIC products. These ratings speak not only to the financial stability of the programs but also to the organizational excellence we bring to the medical professional liability marketplace."

As an unincorporated interindemnity arrangement, MPT operates pursuant to Section 1280.7 of the California Insurance Code and is governed by a seven-physician member Board of Trustees. CAPIC is a Class 4 captive insurance company domiciled in the state of Hawaii.

CAPIC provides reinsurance and other benefits to its primary medical professional liability partner, MPT. The ratings incorporate the unique relationship among these companies and their dedication to supporting health care providers. Since its inception, CAPIC has recorded strong investment returns and positive operating earnings. In 2013, the company was able to expand its reinsurance program through a new program, the CAPAssurance Risk Purchasing Group, which provides access to coverage for larger group physicians and hospital facilities.

A.M. Best Company's Financial Strength Ratings are an independent opinion of an organization's financial strength and ability to meet its ongoing coverage and contract obligations.

About the Cooperative of American Physicians, Inc.
The Cooperative of American Physicians, Inc. was established in 1975 by a group of California physicians to manage the escalating cost of medical professional liability coverage. Two years later, CAP formed the Mutual Protection Trust (MPT), which has earned an A+ (Superior) rating from A.M. Best since 2006. In 2013, CAP created the CAPAssurance Risk Purchasing Group, allowing hospitals, facilities, and large physician groups access to top-rated liability and risk management services. CAP now supports more than 12,000 of California's finest physicians through offices in Los Angeles, San Diego, Orange County, Sacramento, and Palo Alto. For more information, visit www.CAPphysicians.com.

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