|By Marketwired .||
|January 7, 2014 12:22 PM EST||
LOS ANGELES, CA--(Marketwired - January 07, 2014) - The Cooperative of American Physicians, Inc. (CAP) has elected Phillip Unger, MD, and Cynthia Belcher to the Board of Directors of the CAPAssurance Risk Purchasing Group. The board expansion comes as CAPAssurance seeks to capitalize on its early success with large physician groups and focuses on transforming medical malpractice coverage for hospitals.
Dr. Unger, a board-certified radiologist, is board chair of the Cooperative of American Physicians Insurance Company, Inc., (CAPIC) and Ms. Belcher serves as CAPIC's chief operating officer. Ms. Belcher is also senior vice president of Corporate Strategy and Business Development at CAP and Dr. Unger is a long-time board member of the Mutual Protection Trust (MPT).
"As members of the board, Dr. Unger and Ms. Belcher will bolster the momentum of the CAPAssurance program, which combines substantial financial strength with unprecedented risk management and claims-handling expertise for health care professionals," says CAP Chief Executive Officer James L. Weidner.
The CAPAssurance board includes Weidner as well as Juan Carlos Cobo, MD, andBéla Kenessey,MD, who chair the MPT Board of Trustees and CAP Board of Directors, respectively. The day-to-day operation of CAPAssurance is led by industry veteran John Raleigh, who also serves as CAP's vice president of Membership, as well as Timothy P. Foley, chief underwriting officer of CAPIC. The risk purchasing group is underwritten by an A+ rated, national medical malpractice liability company. CAPIC, a Class 4 sponsored reinsurer domiciled in the state ofHawaii, provides reinsurance to the CAPAssurance program.
The addition of Dr. Unger and Ms. Belcher to the board follows the expansion of CAPAssurance's scope. After forming in early 2013 to provide coverage to hospitals and other facilities, the risk purchasing group added large physician groups to its program. Currently, CAPAssurance provides coverage and other services to 463 group-based physicians.
About the Cooperative of American Physicians, Inc. The Cooperative of American Physicians, Inc. 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, which today provides protection to more than 12,000 of California's finest physicians, and which has earned an A+ (Superior) rating from A.M. Best since 2006. In 2013, CAP created the CAPAssurance Risk Purchasing Group, allowing hospitals, facilities, and large physician groups access to top-rated medical malpractice insurance and risk management services. Based in Los Angeles, CAP also has offices in San Diego, Orange County, Sacramento, and Palo Alto. For more information, visit www.CAPphysicians.com.
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