August 23, 2004
FOR IMMEDIATE RELEASE
CAP-MPT ANNOUNCES 'EXCELLENT' RATING OF
MUTUAL PROTECTION TRUST
A.M. Best Affirms 'A' (Excellent) Rating
LOS ANGELES, Calif., August 23, 2004 - The Cooperative of American Physicians, Inc.- Mutual Protection Trust (CAP-MPT), a provider of medical professional liability protection for more than 8,000 California physicians, has announced an A.M. Best rating of "A" (Excellent) for the Mutual Protection Trust.
This is the sixth year in a row that MPT has received an "Excellent" notation 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, 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 "membership in MPT continues to increase and membership retention is very high due to the variety of services available, quality of claims handling and claims-paid nature of the program." The company provides coverage to more than 10 percent of the California market for physicians.
The rating agency recognized "MPT's comprehensive risk management practices with visits to all members every four years and to new members within the first year of being covered, as well as attendance at a CME accredited risk management course."
Members of MPT are required to be members of the Cooperative of American Physicians, Inc. (CAP), which provides services related to liability coverage. In spite of a nationwide downturn in the medical professional liability industry, CAP-MPT is among the most successful physician-owned medical liability companies in the U.S.
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