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CAP Announces 'A' (Excellent) Rating of Mutual Protection Trust
A.M. Best Affirms Rating for Fifth Straight Year
December, 2005
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LOS ANGELES, Calif., September 26, 2005
The Cooperative of American Physicians, Inc.- Mutual Protection Trust (CAP-MPT), a provider of medical professional liability protection for some 8,500 California physicians, has announced an A.M. Best rating of "A" (Excellent) for the Mutual Protection Trust.
This is the fifth straight year that MPT has received an "A" mark from the A.M. Best Company, the premier independent rating agency for the industry.
According to A.M. Best, the rating "reflects Mutual Protection Trust's (MPT) excellent risk-adjusted capitalization, consistent operating performance, favorable loss reserve position, controlled revenue growth and conservative investment portfolio."
MPT's rating "also reflects the rigorous underwriting and claim management practices of MPT through its peer review panels staffed by member physicians. This has led to loss experience that is more favorable than other medical malpractice insurance writers."
A.M. Best noted that "revenue in the form of annual assessments and dues, investment income and other coverage fees has adequately covered total expenses. This is evident in MPT's generally positive net income over the last five years."
Furthermore, the rating agency said that "MPT has responded to the hardening market conditions by maintaining focus on preferred physicians and further enhancing its underwriting practices. Through its affiliated organization, the Cooperative of American Physicians, Inc., it has also responded to changes in the healthcare market by broadening the services provided to members, including an in-house insurance agency and consulting services for member physicians' office operations."
About CAP
Established in 1977, CAP today provides liability protection for the medical practices of more than 8,500 California physicians. Because of its rigorous underwriting, claims management priorities and very involved risk management programs, CAP is recognized as being one of the most successful physician-owned medical liability companies in the U.S. Based in Los Angeles, CAP also has offices in San Diego, Orange and Mountain View, California.
Contact: Bill West
CAP
(800) 252-7706
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