Category

Insurance Made Easy

Risk Retention vs. Risk Purchasing
Insurance Made Easy, Risk Insight

A Look Inside: Risk Retention vs. Risk Purchasing

Alternative risk mechanisms are available to help businesses address and manage their risks. This includes setting up risk retention groups (RRGs) and risk-purchasing groups (RPGs), which are often mistaken for being the same thing. While there are similarities between the two – both require members to be homogeneous and both provide liability insurance under the 1986 Federal Liability Risk Retention Act (LRRA) – they are quite different.

Continue reading