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How Purchasing Groups Work
The Purchasing Group concept is a means to allow non-financially related entities in a homogeneous industry group to band together to create an insurance product specifically for their needs. Our umbrella product serves the basic insurance need – the transfer of risk from an individual insured to a third-party insurer.
The Educational Institutions Purchasing Group (EIPG) is a purchasing group as defined in the Federal Risk Retention Amendment of 1986 (15 U.S.C.s.3901 et seq.) and has been formed to purchase liability insurance on a group basis for its members to cover the similar or related liability exposures to which the members of EIPG are exposed by virtue of their related, similar or common business or service.
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