Foa & Son Corporation

Name

Foa & Son Corporation

Legal name

Foa & Son Corp.

Website

https://foason.com

Company type

Private

Founded year

1861

Operating status

Operating

Headcount range

51–100 employees

Ownership category

akta.pro rank

Product category

Commercial Insurance Brokerage

NAICS

Insurance Agencies and Brokerages (524210), Insurance Agencies and Brokerages (52421), Finance and Insurance (52)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Management Liability (D&O/EPL/Fiduciary) (FSAJAGAD)

akta.pro secondary industries

Risk Management & Insurance Advisory for Families (FSAAADAK), Association & PEO Group Health Plans (AHP/PEO-Sponsored) (FSAIAFAH)

Keywords

• Commercial insurance brokerage
• Risk management services
• Employee benefits consulting
• Specialty insurance programs
• Marine cargo insurance

Headquarters

HQ city

New York

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, Others

Revenue model

1. Insurance Brokerage Commissions: Foa & Son earns revenue through commissions from insurance carriers for placing business. As an insurance brokerage firm, they design and maintain strategic commercial coverage programs for clients and earn commissions from insurers.
2. Employee Benefits Consulting: Provides employee benefits advisory services including health, dental, vision insurance, disability income, life insurance, and retirement plans. May charge consulting fees for self-funded benefits administration.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels8 records

Core offering

Foa & Son Corporation is an insurance brokerage firm that designs, places, and maintains commercial, personal, and specialty insurance programs for businesses and individuals. It operates through industry-specific practice areas (Food & Beverage, Real Estate, Construction, Retail & Apparel, Multinational Companies, Family Offices, Life Sciences, Municipalities, Automotive, Telecom & Technology, Precious Metals/Fine Art/Jewelry & Specie, Employee Benefits, and Private Insurance Advisory), each led by senior executives with two or more decades of insurance experience. The firm also provides employee benefits consulting, including health, dental, vision, disability, life insurance, retirement plans, self-funded plans, and PEO partnership coordination, earning commissions from carriers and consulting fees for advisory work.

Product overview

Foa & Son is an insurance brokerage firm offering a comprehensive portfolio of commercial and personal insurance solutions organized around industry-specific practice areas led by senior executives. The core offerings include Commercial Risk/Commercial Insurance (property, casualty, liability, cyber, D&O, marine cargo, professional liability), Employee Benefits (health, dental, vision, disability, life insurance, retirement), and Specialty Practice Areas covering Food & Beverage, Real Estate, Construction, Retail & Apparel, Telecom & Technology, Precious Metals/Fine Art/Jewelry & Specie, Municipalities, Family Offices, Multinational Companies, Life Sciences, and Automotive. The firm also provides specialized products including Stock Throughput Insurance, Product Contamination and Recall Insurance, Event Cancellation Insurance, and Business Interruption Coverage. Services include PEO partnership facilitation and self-funded health plan administration. Foa & Son is a subsidiary of Alera Group and has been in business since 1861.

Differentiator

Problem solved

Functional benefit

Products and services

• Commercial Risk / Commercial Insurance Comprehensive commercial coverage programs designed to protect businesses, including property, casualty, liability, and specialty lines such as marine cargo, cyber liability, D&O, and professional liability insurance. Delivered to businesses across Foa & Son's industry practice areas.
• Employee Benefits Full suite of employee benefit solutions including health insurance, dental, vision, disability income, life insurance, retirement plans, and voluntary benefits, with expertise in alternative funding and PEO partnerships for businesses.
• Personal Lines Insurance Personal insurance including homeowner coverage and personal jewelry and collectors insurance for individuals and high net worth clients.
• Marine Cargo Insurance Coverage for physical loss or damage to goods during transportation by cargo ship, including specialized endorsements for trade disruption expenses. Designed for food importers/exporters, distributors, and other shippers.
• Stock Throughput Insurance Comprehensive coverage for goods during international transit as well as domestic storage and inland transportation by truck or rail, providing end-to-end supply chain protection.
• Product Contamination and Recall Insurance Specialized coverage for accidental product contamination and malicious product tampering, addressing biological contamination risks such as salmonella or listeria. Designed for food processors and distributors.
• Event Cancellation Insurance Coverage reimbursing businesses if scheduled events are canceled or postponed due to covered events including government-ordered quarantines.
• Business Interruption Insurance Coverage for lost income due to business disruptions, including contingent business interruption for supply chain disruptions.
• Directors & Officers (D&O) Insurance Management liability coverage protecting directors and officers of both public and private companies from lawsuits, including employment practices liability and cyber coverage.
• Cyber Liability Insurance Coverage including breach response, ransomware protection, funds transfer fraud, social engineering coverage, and third-party liability for cyber incidents.
• Self-Funded Health Plans Self-insurance health benefit administration with stop-loss insurance options, third-party administrator services, and ERISA-compliant plan design for employers.
• PEO Partnership Services Co-employment relationship services through Professional Employer Organizations, sharing HR responsibilities including payroll processing, benefits administration, and compliance management for clients.
• Precious Metals, Fine Art, Jewelry & Specie Insurance Specie insurance covering precious and valuable items including fine art dealers, galleries, coin and currency dealers, precious metals dealers, jewelry and diamond dealers, and transporters, both commercially and for personal collectors. Placed through Lloyd's of London and US domestic carriers.
• Real Estate Industry Insurance Insurance solutions tailored for property owners, developers, and real estate companies, addressing unique exposures in the real estate sector including NY Labor Law 240/241 coverage.
• Construction Industry Insurance Coverage including builders' risk insurance, contractors' liability, and surety bonds for construction companies and subcontractors.
• Multinational Companies Insurance Global insurance products and coordination for companies with international operations, including specialized services for German, Italian, French, Spanish, British, and EU companies seeking US insurance coverage.
• Automotive Industry Insurance Coverage solutions for automotive industry businesses and operations, including auto insurance and fleet coverage for dealers.
• Life Sciences Industry Insurance Insurance solutions for life sciences companies and organizations, addressing product liability and manufacturing risks.
• Municipalities Insurance Risk management and insurance solutions for public entities and municipalities.
• Retail & Apparel Industry Insurance Insurance solutions for retail operations and apparel businesses, including inventory protection and throughput coverage.
• Family Offices Insurance Comprehensive insurance advisory services for family office clients requiring personal and business asset protection.
• Telecom & Technology Industry Insurance Coverage including E&O, cyber liability, and D&O insurance for technology companies and telecommunications firms.

Quantifiable outcome

• Michael Pearl has been successful in reducing premium costs while increasing limits and broadening coverage for precious metals and fine art clients
• +1 more outcomes

Segments13 records

Ideal customer profiles8 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered core and minor.

• Firm InsurancecoreOthers · 19 December 2022Operations of Firm Insurance of Mahwah, New Jersey combined with Foa & Son. Firm Insurance was a leading provider of Commercial, Personal, and Life insurance. This acquisition expanded Foa & Son's presence and capabilities.
• Alera GroupcoreOthersFoa & Son is owned by Alera Group, a national insurance brokerage network. This affiliation provides access to national resources, expanded market reach, and additional expertise while maintaining local service capabilities. The relationship enables Foa & Son to offer sophisticated global insurance products to clients.
• Lloyd's of LondoncoreTechnology or IntegrationFoa & Son utilizes the Lloyd's of London insurance marketplace along with numerous U.S. domestic carriers to place coverage for clients, particularly in the precious metals, fine art, and specie insurance lines. Michael Pearl leverages Lloyd's to reduce premium costs while increasing limits and broadening coverage.
• LBMA (London Bullion Market Association)minorGTM or Marketing PartnerFoa & Son participates in LBMA Global Precious Metals Conference as an industry participant. Practice Leader Michael Pearl attends and connects with industry professionals to discuss precious metals insurance challenges and opportunities.

Scale indicators1 record

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Marsh McLennan: Marsh is one of the world's largest insurance brokers and risk advisors, offering commercial insurance, reinsurance, and risk management across all industries. It is comparable to Foa & Son in core brokerage activity but operates at vastly larger scale across global markets.
• Amwins: Amwins is a large specialty insurance distributor and broker operating across wholesale, retail, and group benefits. Comparable to Foa & Son in specialty lines expertise but at significantly larger scale.
• Aon: Aon is a leading global professional services firm providing risk management, insurance brokerage, and HR consulting. It competes with Foa & Son in commercial insurance placement and employee benefits advisory but serves Fortune-level clients globally.
• Willis Towers Watson (WTW): WTW is a global advisory and insurance brokerage firm offering risk management, insurance, and benefits services. It overlaps with Foa & Son in commercial insurance and employee benefits but operates primarily at enterprise scale.

Direct peers

• Alliant Insurance Services: Alliant is a specialty insurance brokerage serving commercial and personal clients with industry-focused practice groups. It is closely comparable to Foa & Son in operating model — relationship-driven specialty brokerage with multiple industry verticals.
• USI Insurance Services: USI is a mid-to-large commercial insurance brokerage and consulting firm serving businesses and individuals across the US. Comparable to Foa & Son in offering commercial insurance, employee benefits, and personal lines with industry-specialized practice areas.
• Hub International: Hub International is a large North American insurance brokerage providing property & casualty, employee benefits, and personal lines. Like Foa & Son, it operates specialty practice areas and serves mid-market commercial clients through regional offices.
• Brown & Riding: Brown & Riding is a national specialty insurance wholesale brokerage focused on complex and hard-to-place risks across property, casualty, and specialty lines. Comparable to Foa & Son in placing specialty coverage with Lloyd's and domestic carriers for difficult risks.
• Risk Placement Services (RPS): RPS is a wholesale insurance distributor and specialty broker placing hard-to-place risks across commercial lines. Comparable to Foa & Son in specialty placement capabilities and access to excess/surplus markets including Lloyd's.
• Burns & Wilcox: Burns & Wilcox is a national wholesale insurance broker and underwriting manager specializing in excess & surplus lines. Comparable to Foa & Son in placing complex specialty risks through wholesale and Lloyd's channels.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/foason
• YouTubeyoutube.com/channel/UCRGZheJyKcrUzHiCx-4JtIg
• Facebookfacebook.com/foason
• LinkedInlinkedin.com/company/foa-&-son

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 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 Foa & Son Corporation