Joan T. Schmit is a Research Fellow at the Independent Institute and holds the American Family Insurance Chair in Risk Management and Insurance at the University of Wisconsin, Madison, where she has been on the faculty since 1988. Currently, she is the senior associate dean of the Wisconsin School of business, following a period as chair of the Actuarial Science, Risk Management and Insurance Department in the School of Business, one of the oldest such programs in the nation. She also serves as an affiliate faculty member at the University of St. Gallen in Switzerland. Dr. Schmit has published extensively in insurance and legal journals. Her area of expertise is the interaction of law and economics, primarily focused on the effects of tort law. Recently, she has expanded her research into the enterprise risk management field, including projects sponsored by the Casualty Actuarial Society and Society of Actuaries, as well as a variety of other papers on the topic. Professor Schmit has enjoyed being an academic moderator for the International Insurance Society since 1997.