Richard A. Schacht, CPCU, CDP
Richard A. Schacht founded Risk Auditing & Advisory Services, Inc. “RAAS, Inc.” in 1992. The firm has offices in Florida and Michigan. He and his staff review and evaluate reserving and claims handling practices from an operational, financial and technical perspective. RAAS, Inc. clients include employers, reinsurers, group sponsors of self-insurance programs and law firms. RAAS, Inc. is a strategic alliance partner of Montclair Risk Advisors.
Richard has over 20 years of experience. His exposure to the many third party claim administrators “TPAs” and the claim departments of employers who self-administer their claims has provided him with the ability to quickly identify weaknesses in claims processing and management. Before founding his own firm, he was a senior executive of the claim services subsidiary of what today is Aon, one of the world’s largest insurance brokerage concerns. There he was responsible for the implementing and monitoring claim financial controls.
Richard has expertise and years of experience auditing workers’ compensation, property, liability, health, and disability claims. Additionally, he has performed expert witness work on many occasions.During the nineties the insurance brokerage business went through a period of unprecedented restructuring. Emett & Chandler was purchased by Jardines. Jardines was bought by Alexander & Alexander. Alexander & Alexander was purchased by Aon, which itself was the combination of Frank B. Hall and Rollins Burdick Hunter. Finally, the two "alphabet houses" on the top ten list that nobody predicted would merge, Marsh & McLennan and Johnson & Higgins, did merge to form J&H Marsh & McLennan.
Richard has spoken at the Florida chapter of the Risk and Insurance Management Society and at conferences sponsored by the Self-Insurance Institute of America. Articles he has written have appeared in the National Underwriter, Property/Casualty Edition and Self-Insurer magazine. He is a Chartered Property Casualty Underwriter “CPCU” and a Certified Data Professional “CPD.”
