Baltimore, MD
P 410.824.6011
F 410.824.0150
lschott@invotex.com
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A Managing Director with Invotex Group, Mr. Schott is responsible for assisting the firm’s insurance industry and regulatory clients in the areas of solvency, financial examinations and financial reporting. He has more than 30 years experience in the areas of government auditing and insurance, which includes nearly 17 years experience in financial solvency regulation of insurance companies. In his capacity as Associate Commissioner of Examination and Auditing for the Maryland Insurance Administration, Mr. Schott was responsible for assuring the continued solvency of the insurance industry in the state by overseeing financial examinations of domestic insurers, overseeing the financial analyses of annual, quarterly, and other financial reports, overseeing the licensing of authorized insurers and other entities, and, overseeing the collection of premium taxes, retaliatory taxes and surplus lines taxes. He was directly involved in and responsible for the review of the most complex transactions related to insurers regulated by the Administration, including troubled company workouts, mergers and acquisitions, as well as serving as the Insurance Commissioner’s primary advisor on financial issues. He has additional experience with the Maryland Office of Legislative Audits, where where he was responsible for the overall planning, supervision and administration of compliance, performance and opinion audits of major governmental entities, review of work by subordinates, evaluation of completed audit activities, presentation of audit findings to management and preparation of final audit reports. Mr. Schott is a Certified Public Accountant as well as a Certified Financial Examiner. In addition, he has been active for many years in the Society of Financial Examiners including having served as its President in 2005-2006. He has also been quite active in proceedings of the National Association of Insurance Commissioners and has participated actively in numerous of its task forces and working groups. |
