The Risk Retention Reporter spoke with Daniel V. O’Leary, Jr.

Purchasing groups were authorized by Congress along with risk retention groups under the 1986 Liability Risk Retention Act. Unlike risk retention groups, purchasing groups are not insurance companies. Instead, the purchasing group vehicle allows members with a similar risk profile to purchase liability coverage on a group basis. The purchasing group also makes it easier for its  members to purchase coverage from non-admitted and surplus lines carriers. Continue to article