Definitions for "PURCHASING GROUP"
a person or group of people responsible for creating and subsequently monitoring the progress of a purchasing document
An entity created under several Federal Risk Retention acts (principally the Risk Retention Act of 1986) that enables businesses that are unaffiliated except for the sharing of certain similar risk characteristics to purchase General Liability Insurance as a group.
A group having similar risks who have banded together to purchase comprehensive liability insurance group policies which include coverage for product liability risks. The group is organized for the purpose of buying liability coverage on a group basis from an insurance company or a risk retention group, but does not bear the risk of absorbing losses arising from such coverages.