MLchartDataset catalogue

Risk purchasing group (RPG)

Term · Insurance and risk management · MLC-T-INS-002981

A group of similar businesses or professionals that collectively purchase liability insurance from a commercial insurer. Authorized by the Risk Retention Act, an RPG allows members to obtain coverage at potentially lower rates due to their combined purchasing power and shared risk characteristics. Members are not insurers themselves and do not retain risk.

Table 1. Record
IdentifierMLC-T-INS-002981
FieldInsurance and risk management
AbbreviationRPG
Record as JSON 
{
  "id": "MLC-T-INS-002981",
  "term": "Risk purchasing group (RPG)",
  "field": "Insurance and risk management",
  "definition": "A group of similar businesses or professionals that collectively purchase liability insurance from a commercial insurer. Authorized by the Risk Retention Act, an RPG allows members to obtain coverage at potentially lower rates due to their combined purchasing power and shared risk characteristics. Members are not insurers themselves and do not retain risk.",
  "abbreviation": "RPG",
  "url": "https://mlchart.com/terminology/insurance/risk-purchasing-group-rpg/"
}

Record 3,024 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.