PT Risk Management Insurance Services

What PT Risk Management Insurance Services does

PT Risk Management Insurance Services, Ltd. is a privately held, independent insurance brokerage founded in 1993 by Frank B. Thompson and Cindy Paugh, headquartered in Phoenix, Arizona. The company specializes exclusively in insurance and risk management for the energy industry, with a primary focus on propane marketers, petroleum and bulk fuel distributors, energy transportation companies, underground storage tank operators, and farm cooperatives. It operates across all 50 U.S. states and sells 12 distinct product lines covering propane, petroleum, energy transportation, commercial auto, underground storage tank, cyber liability, EPLI, D&O, workers compensation, umbrella, bonding, and farm co-ops coverage. Distribution is sales-led and relationship-based, leveraging founder Frank Thompson's CPCU credentials and 55+ years of energy insurance experience.

The company's core technology is its Boots-on-the-Ground risk assessment methodology, which pairs on-site inspections and quarterly risk reviews with expert contract review and insurance placement across multiple approved carriers. It also integrates third-party GPS fleet monitoring data to inform commercial auto underwriting. There is no proprietary software platform, no AI/ML capability, and no public API; the "platform" is fundamentally a relationship-backed brokerage service rather than a software product.

The revenue model is commission-based brokerage income earned when the agency places coverage with approved carriers on behalf of clients, plus ancillary advisory fees on risk assessments and contract reviews. Policies are annual and recurring, with sample cyber liability pricing of $500–$1,100/year depending on the customer's revenue band. The company states a 94% customer retention rate, a 22% loss ratio, and that 86% of new clients pay lower rates while receiving better coverage, with 14,682 policies written and 406 customer sites currently covered across 29 years of operation. Growth has been organic, with no outside funding, acquisitions, or public-market transactions disclosed.

Name

PT Risk Management Insurance Services

Legal name

PT Risk Management Insurance Services, Ltd.

Website

https://ptrisk.com

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

1–10 employees

Short description

PT Risk Management Insurance Services is a privately held, Phoenix-based independent insurance brokerage founded in 1993 that specializes exclusively in insurance and risk management for propane, petroleum, and energy transportation businesses across all 50 U.S. states, operating 12 product lines under a sales-led, relationship-based model.

Ownership category

akta.pro rank

Product category

Commercial Insurance Brokerage (Energy Industry)

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Agencies and Brokerages (524210), Insurance Agencies and Brokerages (52421)

SIC

Insurance Agents, Brokers & Service (6411), Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Product Liability & Recall (FSAJAGAG)

akta.pro secondary industries

Management Liability (D&O/EPL/Fiduciary) (FSAJAGAD), Product Liability (FSAJADAC)

Keywords

• Propane insurance brokerage
• Petroleum risk insurance
• Commercial auto coverage
• Energy transportation insurance
• Underground storage tank insurance

Headquarters

HQ city

Phoenix

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Insurance Brokerage Services: As an independent insurance company, PT Risk Management acts as a broker placing propane and petroleum risk policies with approved carriers. They earn commissions from multiple insurance carriers they represent.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

PT Risk Management is an independent insurance brokerage that places specialized commercial insurance policies with approved carriers for propane, petroleum, and energy transportation businesses across the United States. Its core offering combines 12 insurance product lines with value-added risk management services such as on-site "Boots on the Ground" inspections, quarterly risk assessments, and expert contract reviews. The company acts as an intermediary, earning commissions from the carriers it represents rather than underwriting policies itself.

Product overview

PT Risk Management Insurance Services is an independent insurance agency founded in 1993, specializing exclusively in energy industry insurance. The company operates as a single integrated platform offering multiple specialized insurance products for the propane, petroleum, and energy transportation sectors. Their product portfolio consists of 12 core insurance products: Propane Insurance, Petroleum Insurance, Energy Transportation Insurance, Commercial Auto Insurance, Underground Storage Tank Insurance, Cyber Liability Insurance, Employment Practices Liability Insurance (EPLI), Directors & Officers Liability Insurance, Workers Compensation, Umbrella Policy, Bonding Services, and Farm Co-ops Insurance. The company differentiates itself through value-added services including expert contract reviews, quarterly risk assessments, on-site inspections ('Boots on the Ground'), and 24/7 support. They work with multiple specialized insurance carriers to provide customized coverage at competitive prices.

Differentiator

Problem solved

Functional benefit

Products and services

• Propane Insurance Comprehensive insurance coverage for propane marketers, wholesalers, transporters, dispensers, auto gas providers, and agriculture co-ops. Delivered as a brokerage placement with approved carriers and supported by on-site risk assessments.

Quantifiable outcome

• 86% of new clients pay lower rates while getting better coverage
• +5 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

20 partnerships are on record, tiered core.

• National Propane Gas Association (NPGA)coreStrategic or Co-development PartnerIndustry association supporting propane marketers through legislation, education, and safety training. PT Risk Management supports and participates in this association.
• Western Propane Gas Association (WPGA)coreStrategic or Co-development PartnerRegional propane industry association providing networking and regulatory updates for western states.
• Western Petroleum Marketers Association (WPMA)coreStrategic or Co-development PartnerAssociation supporting petroleum marketers in western states with advocacy and industry resources.
• Petroleum Marketers Association of America (PMAA)coreStrategic or Co-development PartnerNational association representing petroleum marketers providing advocacy and industry support.
• Arizona Petroleum Marketers Association (APMA)coreStrategic or Co-development PartnerState association representing Arizona petroleum marketers with regulatory and legislative advocacy.
• Arizona Propane Gas AssociationcoreStrategic or Co-development PartnerArizona state propane industry association.
• California Fuels-Convenience AlliancecoreStrategic or Co-development PartnerCalifornia state association for fuels and convenience retailers.
• Fuel IowacoreStrategic or Co-development PartnerIowa state association for fuel marketers.
• Illinois Propane Gas AssociationcoreStrategic or Co-development PartnerIllinois state propane industry association.
• Indiana Propane Gas AssociationcoreStrategic or Co-development PartnerIndiana state propane industry association.
• Iowa Propane Gas AssociationcoreStrategic or Co-development PartnerIowa state propane industry association.
• Michigan Propane Gas AssociationcoreStrategic or Co-development PartnerMichigan state propane industry association.
• Minnesota Propane AssociationcoreStrategic or Co-development PartnerMinnesota state propane industry association.
• Nebraska Propane Gas AssociationcoreStrategic or Co-development PartnerNebraska state propane industry association.
• Pacific Propane Gas AssociationcoreStrategic or Co-development PartnerPacific region propane industry association.
• Rocky Mountain Propane AssociationcoreStrategic or Co-development PartnerRocky Mountain region propane industry association.
• South Dakota Petroleum Propane Marketers AssociationcoreStrategic or Co-development PartnerSouth Dakota state association for petroleum and propane marketers.
• Texas Propane Gas AssociationcoreStrategic or Co-development PartnerTexas state propane industry association.
• Wisconsin Propane Gas AssociationcoreStrategic or Co-development PartnerWisconsin state propane industry association.
• Western Propane Gas AssociationcoreStrategic or Co-development PartnerWestern region propane industry association (logo shown separately from WPGA).

Scale indicators8 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Burns & Wilcox: A major specialty insurance wholesaler and brokerage serving high-hazard and niche commercial classes. Comparable in relying on specialty market access and domain expertise to place complex risks that standard carriers decline.
• Amwins Group: Largest U.S. specialty insurance wholesaler, placing complex and non-standard commercial risks. Comparable in specializing in E&S placements where mainstream carriers lack appetite, similar to PT Risk's propane/petroleum niche.
• RPS Insurance (a Gallagher company): Specialty wholesale broker focused on E&S and complex commercial lines. Comparable in matching hard-to-place risks with specialty carriers and providing broker-led risk consulting alongside placement.
• Heffernan Insurance Brokers: Mid-market specialty insurance brokerage serving complex commercial and niche industry clients. Comparable in targeting specialized industry verticals (including energy-adjacent segments) with high-touch service differentiation.
• CRC Insurance Services: Wholesale specialty insurance distributor providing E&S market access. Comparable in operating as the intermediary between retail agents/insureds and specialty carriers for niche/hazardous risks.
• Alliant Insurance Services: Specialty-focused property & casualty brokerage with deep niche industry practices. Comparable in emphasizing industry-specific expertise and tailored coverage placements for complex commercial clients.
• NSM Insurance Group: Specialty insurance program manager and broker building industry-specific coverage solutions. Comparable in developing niche programs (e.g., habitational, specialty auto) where domain specialization drives underwriting outcomes.
• Brown & Riding Insurance Services: Specialty wholesale insurance broker focused on complex property, casualty, and E&S placements. Comparable in serving retail brokers and insureds with risks standard markets decline, including energy and transportation exposures.
• McGill & Partners: Specialty wholesale insurance brokerage arranging complex and niche commercial placements. Comparable in market-segment specialization and bespoke carrier relationships for hard-to-place accounts.
• Ames & Gough: Specialty insurance brokerage serving construction, energy, and other complex commercial industries. Comparable in offering industry-specific risk management and insurance placement for hazardous and technically demanding exposures.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/PTRisk

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PT Risk Management Insurance Services