Insurance for today. Risk navigation for a better tomorrow.

Businesses in every industry and organizations of all shapes and sizes need insurance. As commercial insurance brokers, Favor & Company can assist you to obtain the appropriate insurance coverage to protect your business. We have developed a specialized niche serving the insurance and risk management needs for fraternal organizations, manufacturing operations, non-profit associations, tourist show cave and natural attraction destinations.

Our difference is that we value proactive collaboration. We work closely with you to bring to light the most effective ways to lower the frequency and severity of losses. It’s a long-term investment in risk management that often results in lower insurance costs for our clients. 

Jim Favor founded our company on this philosophy  in 1979 when he first started James R. Favor & Company. His first group of customers were fraternal organizations that struggled to obtain and maintain insurance protection. He believed in the positive power of fraternities and sororities, and developed an insurance program to help them succeed. Today, Favor & Company has developed additional niche industry insurance programs that are designed to meet the unique insurance needs of each customer. These clients, too, rely on us as their trusted insurance advisor providing valuable perspective and expert guidance.


James R. Favor Company founded and first insurance programs for sororities developed


Developed first insurance programs for fraternities


Named exclusive provider of Lloyd’s of London commercial property insurance for fraternal organizations


Established general liability program with Lloyd’s


Earned Coverholder status with Lloyd’s of London


Establishes first board of directors


Established Professional Fraternity Association program


Created and launched the Fraternal Health & Safety Initiative


Began serving as Lloyds Coverholder for a new Tourist Show Cave and Attractions insurance program


Began serving the needs of specialized commercial industries


Created Excess Liability program with Lloyd’s for Fraternal organizations


Renamed Favor & Company celebrating 35-year relationship with Lloyd’s

Favor & Company has earned the respect of Lloyd’s of London, one of world’s best known marketplaces for insurance buyers and sellers. Members of Lloyd’s operate as syndicates to pool and spread risks of different businesses, organizations and individuals.

In the midst of the “Liability Crisis” in the 1980s, Favor & Company initiated at Lloyd’s what has come to be known as “The Lloyd’s Fraternity Insurance Program” providing broad customized property and liability insurance protection for fraternal organizations. The company has earned the respect and full confidence of Lloyd’s and has been appointed by Lloyd’s as an exclusive Coverholder.  As a Lloyd’s coverholder, the company is authorized to underwrite and accept certain types of risks on behalf of Lloyd’s. Favor & Company underwrites, develops, and customizes all of the individual terms, conditions, costs, and other details for various authorized niche insurance programs. Lloyd’s is fully bound by the company’s decisions. In dealing with Favor & Company, you have immediate access to the underwriters, program, and claim managers for your insurance coverage so that important matters can be discussed directly, and decisions can be mutually developed and promptly implemented.

Lloyd’s is the world’s best known, but probably the least understood insurance brand. Lloyd’s is not an insurance company, but a society of members and companies who underwrite in syndicates and whose professional underwriters accept risk and tailor solutions to respond to the specific needs of their customers. Over 330 years ago, Lloyd’s began in Edward Lloyd’s Coffee House as a place where people with risks met with people with capital who, for a price, would agree to insure their risks. That’s exactly what Lloyd’s is today: a face to face market with all the dynamism and imagination that an insurance market creates.

Today, Lloyd’s is the world’s leading specialist insurance market. Lloyd’s has always been the insurance industry’s leader in innovation. Lloyd’s created some of the first unique insurance coverage for exposures such as: Automobiles, Spacecraft, Aircraft, Ocean Marine, Loss of Profits or Business Interruption, Blanket Bonds, Directors & Officers Liability, Travel and Personal Accident Protection, Ocean Oil Rigs and Supertankers to mention just a few. Lloyd’s financial security is rated A+ by A.M. Best, Fitch, and Standard & Poors. Lloyd’s security, innovation, and direct face to face prompt decision making are frequently mentioned as the reason that Lloyd’s insures 93% of the Dow Jones Industrial Average Companies and 81% for the U.S. Fortune 500 Companies.

Read: The letter from the Chairman of Lloyd’s celebrating the 25-year anniversary of the relationship with Favor & Company.

Read: Pocket Guide to Lloyd’s

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