Risk Purchasing Group
An organization of businesses with similar liability exposures that bands together to purchase insurance collectively, leveraging group buying power to obtain better coverage terms.
Risk purchasing groups (RPGs) allow businesses facing similar risks to negotiate insurance as a collective, often securing better pricing and broader coverage than members could obtain individually. Unlike risk retention groups, RPGs do not retain risk themselves—they purchase coverage from traditional insurers or surplus lines carriers on behalf of members.
In COI compliance, certificates from RPG members may list both the purchasing group and the underlying carrier. The actual insurer providing coverage is the entity that matters for compliance verification. Compliance teams should identify the carrier backing the RPG's program and validate its financial strength and licensing status.
RPGs are common in industries like construction, hospitality, and childcare. When multiple vendors on a project show certificates through the same RPG, compliance teams can streamline review by verifying the underlying carrier once and applying that assessment across all group members.
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