Thomas graduated from Eastern Kentucky University with a B.S. in 1978 and from West Virginia University with an MBA in 1981. He worked for Reliance Insurance Company as a surety underwriter from 1981 to 1985 and then joined Wausau Insurance Company as a Regional Bond Manager in 1985, became Divisional Bond Manager in 1994 and Assistant Vice President in 1998. Thomas became Bond Manager of Liberty Mutual Insurance Company, by way of merger in 2000. He then joined Robert J. Hanafin, Inc. as Vice President and Bond Manager in 2005, and joined IOA in 2015.