Is retention the same as deductible?

No, retention and deductible are not the same. Retention refers to the amount of risk that a company or individual chooses to retain or self-fund before insurance coverage kicks in, often used in the context of commercial insurance. A deductible, on the other hand, is the amount an insured person must pay out-of-pocket before their insurance policy pays for a covered loss. While both concepts involve costs borne by the insured, they apply in different contexts and have distinct implications.