What Does Risk Purchasing Group Mean?

Need Personal or Business Insurance?

Request A Quote



What does Risk Purchasing Group mean? Read on to discover the definition & meaning of the term Risk Purchasing Group - to help you better understand the language used in insurance policies.

Risk Purchasing Group

Risk Purchasing Group

A group formed in compliance with the Risk Retention Act of 1986 authorizing a group of insureds engaged in similar businesses or activities to purchase insurance coverage from a commercial insurer. This is in contrast to a risk retention group (RRG), which actually bears the group's risks rather than obtaining coverage on behalf of group members.

We hope the you have a better understanding of the meaning of Risk Purchasing Group.

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z


Want A Business or Personal Insurance Quote?

Request A Quote

Contact EK Insurance to discuss how much the insurance you want costs.