Author

Frank Thompson

Frank Thompson is a chartered property and casualty underwriter based in Phoenix, Arizona. He is the owner of PT Risk Management, an independent insurance company specializing in writing propane and petroleum risk policies across the United States. Visit ptrisk.com.

 

  • Insurance

    Marijuana and Its Insurance Implications

    (August 2017) The voice on the other end of the phone sounded frustrated: “Frank, what is the level of marijuana that a propane driver can have in their system at the time of a drug test and still drive?” My answer — zero tolerance. He went on to say that he had tried to hire a CDL/Hazmat driver and had 32 applicants all fail their drug test. There isn’t a week that goes by without a marketer calling to ask for advice about prescription drugs or medical marijuana. How do drugs affect my insurance coverage, especially my auto liability, my general liability, my employment practices liability policy, and my workers compensation? It’s at this juncture that we point out that we are not attorneys, but insurance agents,...

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  • FBI Consultant Worries About Small Business Cyberattacks — and So Should You

    By Frank B. Thompson… On May 22, 2015, FBI consultant John Iannarelli addressed the security threats facing small businesses. “The cybercriminal is the 21st-century purse snatcher and pickpocket rolled into one,” he said. He then outlined three reasons why small businesses are particularly vulnerable to cyberattacks: 1. Customer data and other information is easier to access. 2. Small businesses have fewer financial and IT resources with which to protect themselves. 3. PCI compliance won’t stop a data breach. The threat from overseas hackers, former and current employees, business partners, and even negligence and human error is real for propane marketers, whose technology assets are often more valuable than their property assets. And yet, a recent independent survey reveals that only 12% of propane marketers have...

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