Inspiring change in the insurance industry since 1967
In 1967, Scott Welch founded Bowers, Schumann & Welch, an insurance agency in northwest New Jersey. Twenty-four years later, Charter Partners was born.
A company built on values
BS&W started as a small business and eventually grew to employ 100 professionals. It was a family business that cared deeply about client and employee experience.
Members and professionals alike shared a sense of interconnected community—they vacationed together, participated in summit discussions, and relationships, personality and trust were at the heart of the company.
Something new born from a challenge
The insurance industry experienced a crisis. The Public Entity book of business began experiencing large premium increases year-after-year due to the overall insurance market.
To address this issue, a feasibility study was conducted, which revealed that the group was providing their current insurers with millions of dollars in profit every year. To strengthen the business against these macro-economic factors, BS&W formed their first captive-like industry group in 1986.
Looking to the future
At that point, Todd & Glen Welch saw the spark: an opportunity to build a business that cares about people—where financial incentives actually align with the values of their father’s vision. Charter Partners USA was formed.
Since that day, our focus is fixed on providing innovative insurance solutions to best-in-class operators with the ability to have influence over their insurance program. We provide high-quality insurance services, with a community-driven approach, to a variety of high risk sectors. Our captive approach has allowed for greater influence over insurance programs, resulting in better risk management and more reasonable premiums for operators.
Editor’s Note
Scott F. Welch is president of Bowers, Schumann & Welch, an agency that handles all types of insurance, including auto, home, health and municipal coverage and worker's compensation. In his position, Welch oversees 84 employees working in the agency's four offices, including Blairstown and Washington, N.J., Bethlehem, and a two-month-old office in Washington, D.C He also helps set the goals and general direction of the agency. And he still services some accounts, including Warren County and Warren Hospital.
In memory of
Scott Welch, Glen Welch, Henrietta Welch.
Insurance is about people first.
Risk can’t be avoided but it can be mastered.
Leadership and safety are intrinsically linked.
