SACRAMENTO, Calif. (Legal Newsline) - The CEO of Cooperative of American Physicians, a physician founded company providing medical malpractice insurance to California doctors, will stay his pending retirement in hopes of protecting the Medical Injury Compensation Reform Act.
James Weidner, 66, announced Thursday he would retire from CAP on March 1. He will remain with the company for the next nine months to focus on succession planning, reinsurance placement and managing CAP's public affairs strategy to protect MICRA, according to a press release.
On May 15, a ballot initiative aimed at repealing MICRA, which currently caps non-economic damages at $250,000, qualified for the ballot.
"During the transition, Jim (Weidner) will continue to lead our experienced management team and contribute to the essential goal of preserving MICRA in the face of the November initiative that targets this landmark law," said Dr. Juan Cobo, chair of the Mutual Protection Trust. "We are committed to ensuring a smooth and stable leadership change and maintaining excellence in all facets of the CAP enterprise."
During his time with CAP, Weidner was elected chair of the Physician Insurers Association of America and received the PIAA's 2014 Peter Sweetland Award of Excellence for his contributions to the medical professional litigation insurance industry, the press release states.
"I am proud of the organization we've built at CAP, the products and risk management tools we have developed, and the protection we provide physicians, hospitals, and medical groups," Weidner said. "I look forward to watching CAP continue to grow and remain committed to the organization, its professionals and customers."
Reach David Yates at elections@legalnewsline.com
Retiring CEO of med-mal insurer staying on to protect MICRA
