LOS ANGELES, Sept. 18 The Mutual Protection Trust (MPT),the medical professional liability protection product of the Cooperative ofAmerican Physicians, Inc. (CAP), said today that the recent restructuringamong major financial institutions has had minimal effect on its trust fundportfolio.
"By law, MPT's investments are restricted to what are consideredconservative financial vehicles," said James Weidner, chief executive officer."Those parameters match MPT's own disciplined stance on investments and allaspects of the organization. This approach has kept the recent fluctuations inthe financial markets from adversely affecting the strength of MPT's trustcorpus."
As recent news has shown, however, even what have been considered the moststable financial institutions were weakened by the decline in the value ofmortgage-backed investments. Even so, MPT's exposure to such devaluations hasbeen minimal.
"As a doctor-run organization," Weidner added, "the physicians on theFinance & Investment Committee continue to monitor developments and inconjunction with our chief financial officer, and outside investmentexpertise, to make sure that the safety of our 10,000 members' trust depositsremains a top priority."
About the Cooperative of American Physicians, Inc. (CAP)
The Cooperative of American Physicians, Inc. was established in 1975 by agroup of California physicians to manage the escalating cost of medicalprofessional liability coverage. Two years later, CAP formed the MutualProtection Trust which today provides protection for 10,000 of the finestphysicians practicing in California. Based in Los Angeles, CAP also hasoffices in San Diego, Orange, Sacramento, and Mountain View, California.
SOURCE Cooperative of American Physicians, Inc.