Cooperative of American Physicians, Inc.

What Cooperative of American Physicians, Inc. does

Cooperative of American Physicians, Inc. (CAP) is a physician-founded, private mutual protection organization established in 1975 and headquartered in Los Angeles, California. Its core product is medical professional liability coverage for California physicians, delivered through the Mutual Protection Trust (MPT) — an unincorporated interindemnity arrangement authorized under Section 1280.7 of the California Insurance Code, under which members pay risk-classified assessments rather than conventional insurance premiums. CAP serves more than 13,000 physicians across the state, making MPT the second-largest provider of medical professional liability coverage in California, and maintains an A+ (Superior) Financial Strength Rating from AM Best for the 19th consecutive year.

Beyond core malpractice coverage, CAP operates an integrated service stack spanning risk management (24/7 hotline, on-demand CME programs, practice visits, HIPAA compliance tools, focused review case studies), practice management (HR support and a customizable HR Manual for Medical Practices, EHR consulting, CAP Marketplace vendor directory, CAPAdvantage discount programs, CAP Purchasing Alliance group buying), and ancillary insurance distribution through the CAP Physicians Insurance Agency covering life, disability, long-term care, cyber, accident, critical illness, dental/vision, and personal lines. Distribution is primarily direct-to-physician via capphysicians.com with instant quoting and online applications, phone-based account executives, and regional offices in Los Angeles, San Diego, Orange County, and Walnut Creek; large-group and hospital coverage flows through the CAPIC subsidiary (A- rated) and the CAPAssurance Risk Purchasing Group (created 2013).

Wholly owned operating subsidiaries include MPT (core mutual coverage vehicle), CAPIC (large-group medical malpractice insurance), CAPAssurance (risk purchasing group), and CAP Physicians Insurance Agency, Inc. (ancillary insurance distribution). The company is governed by a Board of Directors and Board of Trustees with Sarah E. Scher serving as CEO, and supports the Physician Association of California (PAC) advocacy arm established November 2023. Revenue mechanics flow from member assessments funding claims and administrative costs, with ancillary commission income from partner products distributed via Symphony Health and other CAPAdvantage partners.

Name

Cooperative of American Physicians, Inc.

Legal name

Cooperative of American Physicians, Inc.

Website

https://capphysicians.com

Company type

Private

Founded year

1975

Operating status

Operating

Headcount range

101–250 employees

Short description

Cooperative of American Physicians (CAP) is a physician-founded mutual protection organization providing medical professional liability coverage and integrated risk management, practice management, and ancillary insurance services to over 13,000 California physicians through its Mutual Protection Trust.

Ownership category

akta.pro rank

Product category

Medical Professional Liability Insurance

NAICS

Insurance Carriers and Related Activities (524), Direct Health and Medical Insurance Carriers (524114), Insurance Agencies and Brokerages (524210)

SIC

Fire, Marine & Casualty Insurance (6331), Accident & Health Insurance (6321), Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Medical Malpractice Liability (FSAJADAK)

akta.pro secondary industry

Healthcare Professional Liability (Med Mal) (FSAJAGAE)

Keywords

• Medical malpractice insurance
• Professional liability coverage
• Physician risk management
• Practice management services
• Mutual protection trust

Headquarters

HQ city

Los Angeles

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Medical Professional Liability Coverage via MPT Assessments: Members pay assessments based on risk classifications for the amount necessary to pay claims and administrative costs. Members also make an Initial Trust Deposit, which is refundable according to the terms of the MPT Agreement. This is not a traditional insurance premium model; coverage is provided through an interindemnity arrangement authorized under California Insurance Code Section 1280.7.
2. Business and Personal Insurance Products: CAP offers business and personal insurance products for physicians and medical practices including life insurance, disability insurance, long-term care, accident insurance, critical illness insurance, hospital indemnity, dental and vision, legal plans, identity protection, and pet insurance through partnerships with Symphony Health and CAP Physicians Insurance Agency, Inc.
3. Large Group Medical Malpractice Insurance (CAPIC): Cooperative of American Physicians Insurance Company (CAPIC), a wholly owned subsidiary, provides medical malpractice coverage for large groups, hospitals, and health systems. This operates as a traditional insurance model for larger entities.
4. Value-Added Member Benefits and Group Purchasing: CAP offers group purchasing programs (CAP Purchasing Alliance, CAPAdvantage), practice management services, HR support, EHR consultative services, and other discounted or free benefits to physician members, generating value and member retention.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels7 records

Core offering

The Cooperative of American Physicians provides medical professional liability (malpractice) coverage to California physicians through the Mutual Protection Trust (MPT), an interindemnity arrangement authorized under California Insurance Code Section 1280.7. Its CAPIC subsidiary insures large medical groups, hospitals, and health systems with traditional malpractice insurance. CAP bundles coverage with risk management services, practice management support, an HR hotline and manual, CyberRisk coverage, group purchasing programs, and supplemental business and personal insurance products.

Product overview

The Cooperative of American Physicians (CAP) operates as a physician-founded mutual protection trust organization established in 1975, offering a comprehensive suite of medical malpractice coverage and practice support services. The core product is the Physicians and Surgeons Malpractice Coverage delivered through the Mutual Protection Trust (MPT), with a separate large group product through CAPIC. CAP provides medical malpractice coverage to over 13,000 California physicians. Beyond the core coverage, CAP offers an extensive portfolio of integrated risk management and practice management services including a 24/7 risk management hotline, online CME programs, HR manual for medical practices, practice management consulting, and group purchasing programs through CAPAdvantage. The organization also provides supplementary insurance products including business and personal insurance, cyber risk coverage, long-term care insurance, and disability coverage. CAP is governed as a member-owned cooperative structure authorized under California Insurance Code Section 1280.7.

Differentiator

Problem solved

Functional benefit

Products and services

• Physicians and Surgeons Malpractice Coverage Customized medical professional liability coverage for independent California physicians and small/midsize groups, provided through the Mutual Protection Trust (MPT), an unincorporated interindemnity arrangement. Coverage is paid for via risk-based assessments rather than fixed premiums and includes telemedicine coverage, supplemental benefits, and claims and legal defense support.
• CAPIC Large Group Medical Malpractice Insurance Traditional medical malpractice insurance for large medical groups, hospitals, and health systems, delivered through the Cooperative of American Physicians Insurance Company (CAPIC), a wholly owned subsidiary rated A- (Excellent) by AM Best. Includes enterprise coverage limits and access to CAP's risk management services.
• Business and Personal Insurance Program Supplemental insurance products for CAP physician members and their practices, including life insurance, disability insurance, accident insurance, critical illness insurance, hospital indemnity, dental and vision coverage, legal plans, identity protection, and pet insurance, delivered at competitive group rates.
• CyberRisk Coverage Built-in cyber liability coverage for member practices providing up to $50,000 in coverage and 5,000 patient notifications per covered claim for data breach events, with a $2,500 deductible per claim. Additional upgrade coverage is available through Symphony Health and MEDEFENSE Plus for regulatory investigations and billing audits.
• Long-Term Care Insurance with Life Coverage Group long-term care insurance policy combined with life insurance for CAP physician members and their spouses, offering up to $200,000 in long-term care benefits and $100,000 in life insurance with guaranteed acceptance (no health exams), portable at same rates if leaving CAP.
• Risk Management Services Risk reduction services for CAP physician members including a 24/7 risk management hotline, online specialty-specific CME programs, focused review case studies, practice visit consultations, HIPAA compliance tools, adverse event management resources, and customizable practice forms.
• Practice Management Services Integrated practice management services for CAP physician members including a practice management resource center, a CAP Marketplace vendor directory, CAP Privileges Online credentialing tools, CAPAdvantage discounted programs, an HR Support Hotline, and the CAP Purchasing Alliance group buying program.
• Human Resources Manual for Medical Practices Customizable Human Resources Manual for California medical practices delivered in Word format with separate employee and manager handbooks, covering California employment laws, workplace policies, hiring, termination procedures, and template arbitration agreements.
• Training, Webinars and CME Programs Educational programming for CAP members including specialty-specific on-demand CME courses, free monthly webinars (e.g., HIPAA, coding, workplace violence), The Successful Practice Manager course offering CME and CE credits, the Residents Program for new physicians, and the CAP Speakers Bureau.
• CAPMobile Mobile Application Mobile application (CAPMobile) for CAP physician members that supports on-the-go access to membership resources on compatible iOS and Android devices, distributed via the Apple App Store and Google Play Store.

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Seven partnerships are on record, tiered minor, core and supporting.

• West Coast Health AllianceminorOthers · 3 September 2025The West Coast Health Alliance (California, Oregon, and Washington) was launched to uphold scientific integrity in public health. CAP collaborates with the alliance on promoting vaccine access and science-based public health information.
• CAPAssurance Risk Purchasing GroupcoreStrategic or Co-development Partner · 1 January 2013In 2013, CAP created CAPAssurance, a Risk Purchasing Group, allowing hospitals, facilities, and large physician groups access to top-rated liability coverage and risk management services. This enables larger healthcare organizations to obtain coverage under CAP's established framework while maintaining distinct purchasing arrangements.
• Symphony Health (Symphony Risk Solutions)coreGTM or Marketing PartnerSymphony Health, a division of Symphony Risk Solutions, offers supplemental insurance products to CAP members including disability coverage, long-term care insurance, CyberRisk insurance upgrades, and wealth protection solutions. CAP members receive access to these products at competitive group rates through Symphony Health's insurance professionals.
• Traliant Compliance TrainingsupportingImplementation/ SI/ Consulting PartnerTraliant provides CAP members with free sexual harassment avoidance training and workplace violence prevention training compliant with California regulations. Both courses are available for supervisory and non-supervisory employees. CAP members access these training programs at discounted rates through the CAPAdvantage program.
• WorkWise Law, PCsupportingImplementation/ SI/ Consulting PartnerWorkWise Law, PC is a California employment law firm that provides CAP member practices with discounted workplace violence prevention training. Offers recorded webinars at $16/person (regularly $18/person) or live in-person training for $1,350, plus travel.
• AcentecsupportingTechnology or IntegrationAcentec is a CAPAdvantage program participant providing IT support, HIPAA compliance programs, and cybersecurity guidance to CAP member practices. Services include network security configuration, PHI storage documentation, and required HIPAA risk assessments and employee training.
• Physician Association of California (PAC)coreStrategic or Co-development PartnerThe Physician Association of California (PAC), established in November 2023, is an organization dedicated to advocating for independent physicians and small group practices. CAP supports and collaborates with PAC, which also sponsors legislative bills such as AB 1041 to streamline physician credentialing. PAC was formed to be a voice for independent physicians in California.

Scale indicators6 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• The Doctors Company: The largest physician-owned medical professional liability insurer in the United States, headquartered in Napa, California. Operates in the same California market as CAP and is the most direct competitor after absorbing NORCAL Mutual.
• NORCAL Mutual Insurance Company: Formerly the largest MedMal insurer in California before being acquired by The Doctors Company. Operates the same physician-focused mutual protection model and serves the same independent physician base in California.
• MagMutual Insurance Company: Physician-owned medical professional liability mutual providing MedMal coverage and risk management to doctors in the Southeast. Operates the same mutual model as CAP and offers a similar integrated risk-management and practice-support ecosystem.
• ISMIE Mutual Insurance Company: Physician-owned mutual providing medical professional liability insurance and risk management primarily to Illinois physicians. Closely comparable cooperative/mutual structure and physician-target model to CAP.
• SVMIC (State Volunteer Mutual Insurance Company): Physician-owned mutual providing medical professional liability insurance to doctors across the Southeast. Shares the mutual trust structure, member-owned model, and integrated risk management approach of CAP/MPT.

Broad incumbents

• Medical Protective (MedPro Group): A Berkshire Hathaway subsidiary providing medical professional liability insurance to physicians and healthcare professionals nationally. One of the oldest MedMal carriers in the US, comparable to CAP's MPT in scale and specialization.
• ProAssurance Corporation: Specialty property and casualty insurer with a strong medical professional liability franchise serving physicians, dentists, and other healthcare providers. Publicly traded, larger and more diversified but directly comparable in physician MedMal underwriting.
• Coverys: A leading medical professional liability carrier serving physicians, hospitals, and healthcare systems across the United States. Directly comparable specialty and target customer base to CAP/MPT.
• CNA Financial Corporation: A large national property and casualty insurer with a significant Medical Professional Liability practice serving healthcare providers. Provides similar MedMal coverage for large groups and hospitals through a different commercial insurance structure than CAP.

Emerging players

• Beazley Group: Specialty insurer with a growing Medical Professional Liability and healthcare liability practice. Targets healthcare providers with both traditional and emerging risk products, including cyber liability complementing CAP's CyberRisk offering.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/capphysicians
• Facebookfacebook.com/cooperativeofamericanphysiciansinc
• LinkedInlinkedin.com/company/cooperative-of-american-physicians-inc-

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cooperative of American Physicians, Inc.