Meet Frank Thompson, President of PT Risk Management Insurance Services

Describe your role at your company. 

I am a founding partner and president of PT Risk Management Insurance Services. Our agency has exclusively insured propane marketers, fuel distributors and the transportation sector that supports those industries for over 32 years. 

How did you get your start in the propane industry? 

Years ago, the National Propane Gas Association owned its own insurance company called Nobel. A rep from Nobel approached me and asked me if I would take five propane accounts for them in New Mexico. I then was invited to the Arizona Propane Gas Association’s vendor trade show. That was the beginning of our love affair with propane. 

What major shifts over the years have had the biggest impact on the industry, and what positive changes have you seen come from them? 

RIN, cathodic protection for underground tanks, CETP (now PEP training) and loss control by the insurance companies have all made the propane industry safer, which benefits everyone. 

If you could change one thing in the industry, what would it be? 

That propane companies would proactively instill stronger safety training, rigorous documentation, advanced monitoring technologies, specialized insurance and more proactive legal strategies. A safety-first culture builds public trust and reduces jury hostility. 

Have there been any industry challenges you’ve covered in your career that changed how you approach your role? 

We have always approached every account by providing education and training to our customers and the industry to keep negligence verdicts to a minimum. 

Who has been the strongest influence in your career to date? 

My wife, Cindy. She was my business partner before she was my wife, and she and I built PT Risk Management from those first five accounts sitting at my kitchen table over 32 years ago. 

What advice would you give someone just coming into the industry? 

Don’t enter the industry half-heartedly. You have to be all in. You must understand the pros of propane, but you also have to understand the dangers. 

What do you think would surprise someone about the job you do? 

I think the amount of knowledge about propane everyone on our staff has would surprise most people. Of course, we know insurance, but we also know propane. Everyone on our team has taken CETP training! 

What motivates you to keep growing in your career? 

I’ve always loved to learn. I read insurance journals all the time and try to predict how trends in insurance will affect the energy industry. 

How do you maintain a healthy work-life balance? 

It’s not always easy to do based on the amount of travel this job requires, but I try to make sure to rest when I can. My wife and I love taking Viking River cruises and are preparing for one as we speak! 

If you had an unexpected day off, how would you spend it? 

Hunting — without a doubt. I’ve always loved the outdoors, and I’ve been fortunate to hunt in more than a dozen states and for all types of wildlife.