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James W. Schacht

Board President, (Illinois* Director of Insurance) The Schacht Group

As President of the Schacht Group, Jim advises national and international clients on regulation, restructuring and insolvency, litigation and public policy issues.     Prior to forming his own firm, Jim led Navigant Consulting’s Restructuring, Run-off and Insolvency practice.  He served both Coopers and Lybrand and PricewaterhouseCoopers as leader of the insurance regulatory practice.  Having spent 31 years with the Illinois Department of Insurance, Jim served as Illinois Director of Insurance on three occasions at the request of two governors, as well as Special Deputy Receiver for fifteen years.

 For more than 20 years, Jim took an active leadership role in the National Association of Insurance Commissioners, serving in a leadership capacity on numerous task forces and committees.  Several of Jim’s reform initiatives garnered national attention, particularly the development of the NAIC’s Insurance Regulatory Information System, the development of the first NAIC Handbook on Statutory Accounting Practices and Procedures and numerous model laws and regulations.

Jim is a recognized authority on insurance receiverships and guaranty funds.  He continues to serve as a strategic advisor for the largest solvent run-off in the US and has a particular expertise in assisting troubled companies develop innovative alternatives to receivership.   He has given deposition and court testimony on numerous occasions in civil, criminal, and tax litigation involving insurance and regulatory issues.  In addition, he has testified before congressional and state legislative committees. Jim serves on the board of directors for several insurers.

 Jim frequently writes on emerging issues and is an oft-requested speaker.  He and his colleagues have prepared numerous groundbreaking public policy studies on insurance regulation for the National Conference of Insurance Legislators and other industry trade associations.