LOS ANGELES, May 19, 2011 (GLOBE NEWSWIRE) -- The Cooperative of American Physicians, Inc. (CAP) today announced that its medical professional liability provider, the Mutual Protection Trust (MPT), has maintained its A+ (Superior) Rating from A.M. Best Company. This marks the sixth consecutive year that A.M. Best Company has recognized MPT's exceptional financial strength by assigning it an A+ (Superior) rating and stable outlook.
"During a time when medical professional liability providers throughout the country are feeling the effects of an uncertain health care environment, CAP is especially proud to once again secure this superior rating," said CAP Chief Executive Officer James L. Weidner. "This rating reinforces CAP's commitment to providing its more than 11,000 preferred California physician members with exceptional medical professional liability coverage, supported by a solid financial business model, efficient claims review process, and risk management and patient safety programs consistently recognized for excellence."
As an unincorporated interindemnity arrangement, MPT operates pursuant to Section 1280.7 of the California Insurance Code and is governed by a seven-physician Board of Trustees. Best's Credit Ratings are independent opinions regarding the creditworthiness of an issuer or debt obligation. Best's Credit Ratings are based on a comprehensive quantitative and qualitative evaluation of a company's balance sheet strength, operating performance and business profile, or, where appropriate, the specific nature and details of a debt security.
About Cooperative of American Physicians, Inc.
The Cooperative of American Physicians, Inc. (CAP) 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 today provides protection to more than 11,000 of California's finest physicians, and has earned an A+ (Superior) rating from A.M. Best six years straight. Based in Los Angeles, CAP also has offices in San Diego, Orange County, Sacramento, and Palo Alto. For more information, visit www.cap-mpt.com.