The opportunity for networking with other owners on best practices is another advantage. "The partner companies in our captive come from diverse industries, but we have important things in common, " says Stan Lanford, Jr., chairman of the board of Lanford Brothers Co., Inc., a general contractor that works with state DOTs in Virginia, North Carolina, and South Carolina. "We are all second- or third-generation family-owned companies with strong balance sheets and corporate cultures that emphasize safety from the top down. We learn from each other."
Source: Daniel T. Keough, founder, Innovative Captive Strategies, Inc., a captive consultant that facilitates incorporation/management of captive insurance companies.