Business Details
47 Years
experience
Specialized Insurance Brokerage Services
Founded in 1979, Favor & Company & Company has established itself as a trusted insurance broker and risk management advisor specializing in niche markets. Our expertise lies in serving fraternal organizations, manufacturing operations, non-profits, tourist show caves, and natural attractions, offering tailored insurance solutions that address unique industry risks. As the exclusive provider of certain Lloyd's of London insurance products, we combine global underwriting strength with localized service. Our proactive collaboration with clients focuses on reducing loss frequency and severity, resulting in long-term cost savings and organizational resilience. With over four decades of experience, we maintain direct relationships with underwriters and claims managers, ensuring prompt decision-making and personalized support.Our commitment to innovation and client education is demonstrated through initiatives like the Fraternal Health & Safety Initiative and specialized programs addressing evolving risks such as cyber liability. We pride ourselves on responsive customer service, industry-specific expertise, and a proven track record of navigating complex insurance landscapes. Our team's deep understanding of both traditional and emerging risks enables us to deliver comprehensive protection strategies that align with clients' operational goals. This combination of experience, specialization, and client-centric approach has earned us the trust of organizations nationwide.
Services
Commercial Insurance
Fraternal Insurance
Cyber Security Liability
Workers Compensation
Property Insurance
General Liability
Excess Liability
Business Interruption Insurance
Directors & Officers Liability
Environmental Liability
Details
- Year established: 1979
Highlights and features
- We offer 45+ years of experience in niche insurance markets
- Our team provides exclusive access to Lloyd's of London underwriting capabilities
- We implement proactive risk management strategies that reduce insurance costs
- Our claims specialists maintain direct relationships with major insurance carriers
- We develop industry-specific programs addressing emerging risks like cyber liability
Associations and certifications
- Lloyds of London
Services
Fraternal Insurance
Specialized insurance programs for fraternities, sororities, and similar organizations. Protects against property damage, liability claims, and operational risks. Includes exclusive Lloyd's of London-backed policies developed through 45+ years of industry experience.
Cyber Security Liability
Comprehensive coverage for data breaches and cyber attacks. Addresses financial losses from network security failures, business interruptions, and legal liabilities. Includes risk assessment tools and incident response planning tailored to organizational needs.
Commercial Property Insurance
Coverage for physical assets including buildings, equipment, and inventory. Protects against fire, theft, and natural disaster damages. Customizable policies for manufacturing facilities, tourist attractions, and commercial spaces with flexible deductible options.
Workers Compensation
Mandatory injury and illness protection for employees. Includes medical expense coverage, wage replacement, and rehabilitation support. Tailored programs for high-risk industries with claims management assistance to reduce recurrence.
Risk Management Consulting
Strategic analysis of organizational vulnerabilities. Provides actionable recommendations to reduce insurance costs through proactive safety measures, policy development, and compliance training programs specific to industry requirements.
People
Jim Favor
Founder
Established the company in 1979 with a focus on fraternal organization insurance. Developed pioneering programs that became industry standards. Built strategic partnerships with Lloyd's of London that continue to benefit clients today.
Teresa Bustios
Vice President of Claims
Leads liability claims management with extensive experience in insurance resolution. Oversees claims handling processes to ensure fair, efficient outcomes for clients. Provides expert guidance through complex insurance investigations and settlements.
Drew Hunter
Property Claims Manager
Specializes in property claim resolution with deep understanding of commercial insurance needs. Coordinates with carriers and policyholders to expedite claims processing. Offers technical expertise in damage assessment and coverage interpretation.
Questions
What industries do you specialize in?
We focus on fraternal organizations, manufacturing operations, tourist attractions, and non-profits with customized insurance programs addressing their unique risks.
How do you help reduce insurance costs?
Through proactive risk management strategies that lower loss frequency and severity, including safety programs, policy reviews, and claims management assistance.
What makes your Lloyd's partnership unique?
As an exclusive Coverholder, we create customized policies backed by Lloyd's financial strength while maintaining direct underwriting control and client relationships.
How do I obtain a Certificate of Insurance?
Submit a request through our website or contact our team directly. Approval requires verification from your underwriter and relevant organizational authorities.
What claim support services are available?
Our dedicated claims team provides end-to-end support including reporting assistance, investigation guidance, and ongoing communication with insurance carriers.
Do you offer cyber liability protection?
Yes, our cyber insurance covers data breaches, network security failures, and business interruptions with risk assessment tools and response planning resources.
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