Parthenon Agency was formed in 2010 as a member-owned risk management company serving agricultural based businesses in the upper Midwest to develop and offer risk management solutions to our members during these ever changing times. Building on the success of Access Insurance Association, a Minnesota workers compensation association, and Par Pac, a property and casualty captive domiciled in the Cayman Islands, both traditional risk management tools, our owners felt there were more risks that could be addressed via this platform. By focusing on agri-businesses, we are able to better focus on the unique risks associated with these members. We have connected our members, our outside service providers and the Parthenon Agency staff to form one team working towards the control of the risks that affect our company.
Parthenon Agency is owned by its members and its financial goals are to operate at a breakeven financial level. If the Agency performs well, the fees paid to the agency by its members will be lowered.
Our current customer list is made up of around 40 agricultural cooperatives in the State of Minnesota. This group has annual revenues of over $5 billion and has a combined equity of $1.2 billion. The group has a long history of operations, with many of them having been in business for over 100 years. By using Parthenon Agency as their risk management consultant, this group has been able to recognize cost savings and efficiency gains by sharing information, processes, tools and procedures related to risk management.
Staff and Outside Service Providers
Parthenon Agency’s staff is made up of a dedicated, experienced and educated staff that takes great pride in the services it supplies to its members. Our staff is very experienced in agriculture, finance, insurance, safety and training. Partnered with our outside service providers we work to supply a seamless solution to the various risks encountered by our members. Through trade group membership, seminars, continuing education and research we are constantly looking for ways to improve our members risk management control.
Parthenon Agency currently offers Minnesota workers compensation insurance via Access Insurance Association, property and casualty, crime and directors and officers insurance via Par Pac. We offer assistance with safety, training, provide regulatory updates and documentation via our Compliance group. We also offer the following coverages through an outside service provider: equipment breakdown, professional liability, workers compensation (outside Minnesota), and bonds. Our experience, flexibility, and understanding has resulted in being viewed as a strategic business partner and develop services that best meet the needs of our customers.
- To serve as a member-owned risk management company that is committed to the highest level of professionalism, performance and integrity in the protection of its members.
- To grow by continually establishing new products and services that maintain cost effective risk management controls against the risks that can have a material effect on our members operations.