risk purchasing group (RPG)
A risk purchasing group (RPG) is a group formed in compliance with the Risk Retention Act (RRA) of 1986 authorizing a group of insureds engaged in similar businesses or activities to purchase insurance coverage from a commercial insurer.
risk purchasing group (RPG)
A risk purchasing group (RPG) is a group formed in compliance with the Risk Retention Act (RRA) of 1986 authorizing a group of insureds engaged in similar businesses or activities to purchase insurance coverage from a commercial insurer.
Additional Information
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.
