Image of Lester C. Schott

Lester C. Schott

Partner, CPA, CFE, CGMA
410 824 6011

Les Schott, partner with Baker Tilly’s financial services team, has been with the firm since 1990. Les lead’s the firm’s insurance regulatory practice. He provides support to the firm's insurance regulatory and industry clients in the areas of solvency, financial risk-focused examinations, complex transaction and financial analysis, receiverships, and financial reporting. He has more than 36 years of experience in government auditing and insurance regulatory matters, including 22 years of experience in financial solvency regulation of insurance companies.


  • Serves state insurance regulators in conducting risk-focused examinations of nationally significant life and health, property and casualty and financial guaranty insurers
  • Served the Federal Department of Health and Human Services in implementing various provisions of the Patient Protection and Affordable Care Act, including the development of medical loss ratio examination and analysis procedures, and enforcement of the new market reforms
  • Assists state insurance regulators in the analysis of complex regulatory matters, such as performing capital adequacy analyses of not-for-profit health service plans, and determining the fair value of the state's support of a state worker's compensation insurance fund during its 100 year existence
  • Served as the Court Appointed Receiver of an impaired insurance company
  • As Associate Commissioner of Examination and Auditing for the Maryland Insurance Administration, he was responsible for assuring the continued solvency of the insurance industry in the state
  • Oversaw financial examinations of domestic insurers, financial analyses of annual, quarterly, and other financial reports, licensing of authorized insurers and other entities and the collection of premium, retaliatory and surplus lines taxes
  • Served as the Maryland Insurance Commissioner's primary advisor on financial issues
  • Responsible for reviewing the most complex transactions related to insurers regulated by the Maryland administration, including troubled company workouts and mergers and acquisitions
  • Licensed CPA in Maryland


  • Society of Financial Examiners (SOFE) – President, 2005 through 2006; Member of Executive Committee and Board of Governors, 2000 to 2008; Maryland Chapter, past president and state chair
  • National Association of Insurance Commissioners (NAIC) – Played a key role with the organization and has participated actively in their task forces and working groups
  • American Institute of Certified Public Accountants (AICPA)
  • Regular attendee and frequent speaker at the National Society of Financial Examiners Career Development Seminar, Maryland Chapter of the Society of Financial Examiners Career Development Seminar, and the NAIC Financial Summit
  • Author of numerous published articles on PPACA, medical loss ratio compliance, captive insurers and statutory accounting


Towson University
Bachelor of Science