In 1991, The Welch family formed Charter Partners (CP) to serve entrepreneurs with a new, community-driven alternative to the rising costs and declining trust in the property/casualty insurance marketplace. The focus of the new venture was to provide privately-held entrepreneurial business owners with stability and choice in addressing safety, risk management and insurance issues.
By 1996, CP had created a new effective solution for the entrepreneurs’ property/casualty insurance needs in the form of a rent-a-captive to which the members participated in for twelve years. Since then, Charter Partners has grown by entrepreneur-to-entrepreneur referrals. It created a community of entrepreneurs, working together in an environment of mutual trust and respect and creating value through the Power of Shared Knowledge™.
The business owners who join Charter Partners have:
- A desire to control costs and compete more effectively
- Ability and willingness to work in an environment of mutual trust and respect
- A dedication to development and enrichment for themselves, their companies, their employees, their families and their communities and
- Best practices that they share for the betterment of themselves and partner companies
In 2007, we helped our members migrate from renting to owning their own captive, Cooperative Partnership Insurance Company (CPIC). CPIC is a mutual insurance company owned exclusively by its insured’s, domiciled in Vermont. Vermont is the preeminent base of operations in the United States for captive insurers, and third largest domicile in the world. In 2012, we restructured CPIC to a sponsored captive.
Charter Partners has the responsibility to manage the company for the benefit of the insured’s.