Ric Schultz

Ric Schultz, CPCU, ARM

Chairman of the Board and Secretary, Principal Consultant

Email: rschultz@consultibc.com
Phone: 410.666.0500 Ext: 216
Fax: 410.666.6177

Mr. Schultz is Chairman of the Board, Secretary, a Director and a Principal Consultant of Insurance Buyers’ Council, Inc., an independent risk management and insurance consulting firm headquartered in Baltimore, Maryland.  He started with Insurance Buyers’ Council in 1974, left in 1977 for another risk management consulting firm in New England and rejoined IBC in 1980.

Mr. Schultz graduated from the University of Maryland with a Bachelor of Science degree in Economics.  He has received the designations of Chartered Property and Casualty Underwriter (CPCU) and Associate in Risk Management (ARM).  He is a member of the Society of Risk Management Consultants, an international association of risk management consultants which has strict ethical and experience requirements.

Mr. Schultz is also active in the community with his over 20 year role on a fund-raising committee for Associated Catholic Charities of Baltimore.

Mr. Schultz has spoken before such diverse groups as the Insurance Commissioner’s Office of the State of Maryland, the Maryland Association of CPA’s, the Mechanical Contractors Association of America, the Central Pennsylvania Chapter of the Society of CPCU, the Northeast Regional PRIMA conference, the Mid Atlantic PRIMA conference and the Pennsylvania League of Cities annual convention.

Mr. Schultz has authored many articles for the American Institute of Architects, the Delaware Valley Insurance Trusts and other clients.

He has served as an expert witness in many cases involving insurance coverage or agent responsibility issues for Baltimore, Washington DC and Philadelphia area law firms.

Mr. Schultz has had primary responsibility for completion of the following projects:

Preparation of specifications for administration, loss control and claims services, and analysis of the subsequent proposals for a group liability self-insurance fund (pool) for Boards of Education in the State of Maryland.  He assisted in the development of the Bylaws and Trust Agreement for the newly established entity. The liability pool began operations October 1, 1986.

Development of a feasibility study concerning a group self-insurance pool for property and liability exposures for various townships and boroughs in Montgomery and Bucks counties, Pennsylvania.  The study group formed the Delaware Valley Insurance Trust on January 1, 1989.  

Implementation of a workers compensation group self-insurance trust for various townships, boroughs and authorities in Montgomery, Bucks and Chester counties, Pennsylvania.   The group, known as the Delaware Valley Workers’ Compensation Trust, was the first such group approved in the State of Pennsylvania and began operations on January 1, 1992.  

Investigation of the feasibility of workers compensation group self-insurance for interested cities, townships and boroughs in Pennsylvania for the Pennsylvania League of Cities and Municipalities. The Penn Prime Workers’ Compensation Trust began operations on January 1, 1993; and

Negotiation of a nationwide property and liability insurance program for small firms for the American Institute of Architects Trust.  The program began in late 1996.  

Mr. Schultz maintains a consulting role with all of the groups and Trusts described above.

property and liability consultingemployee benefits consulting - employee benefits consultantspooling and group insuranceproperty and liability actuarial consulting