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Purchasing Groups Offer Benefits To Buyers And Brokers

Purchasing Groups Offer Benefits To Buyers And Brokers Even for those in the industry, risk retention and purchasing groups are a specialized subject. Many have ...

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Purchasing Groups Offer Benefits To Buyers And Brokers Even for those in the industry, risk retention and purchasing groups are a specialized subject. Many have trouble distinguishing between the two, and often arent sure what purpose they serve.

There are approximately 682 purchasing groups and 109 risk retention groups licensed in the United States today, according to the Risk Retention Reporter. Although they represent a small portion of the total liability market, risk retention and purchasing groups continue to grow, particularly with the current hard market spawning a recent increase in their numbers.

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