The A.M. Best Company has again assigned a rating of “A” (Excellent) to the Cooperative of American Physicians, Inc.-Mutual Protection Trust (CAP-MPT), a provider of medical professional liability protection for more than 6,500 California physicians.
CAP-MPT’s “A” mark is the highest rating held among all California-based medical professional liability protection providers by A.M. Best.
According to A.M. Best, CAP-MPT’s rating reflects the company’s positive net income during the last five years as well as the “rigorous underwriting and claims management practices” of its physician peer review panels.
“A.M. Best’s continuing recognition of our strength parallels a record number of California physicians joining CAP-MPT this year,” said J. Michael Wormley, M.D., Chairman of the Board of Trustees.
CAP-MPT’s membership grew by 12 percent in 2001. In spite of a nationwide downturn in the medical professional liability industry, CAP-MPT is in the best financial condition since its inception in 1977 and is among the most successful physician-owned medical liability companies in the U.S. Today the members’ deposits stand at $82 million, far exceeding members’ liability of $70 million.
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