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.
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Born: March 20, 1939.
Birthplace: Moline, III.
Education: Bachelor of business administration from Upsala College in East Orange, N.J.
Marital status, family: Wife, Henrietta, and three children, Glen, 28, Todd, 26, and Jody, 24.
Height: 6 ft. 2 in.
Weight: 240 lbs.
Neighborhood: Top of Schooley's Mountain.
Type of home: Ranch
Favorite food: Meatloaf.
Favorite drink: Milk.
Last movie seen in a theater: Rain Man.
Last book read: The E-Myth by Michael E. Gerber.
Magazine subscriptions: Popular Science, Look.
Two people you admire: Walt Disney, John F. Kennedy.
What did you want to be when you were growing up: A lawyer.
Pet peeve: People who won't get to the point.
Favorite spectator sport: Football.
Favorite team: None.
Hobby: Gardening, renovating house and Bowers, Schumann & Welch.
Pet: Corky, a Yorkshire terrier.
Favorite TV show: Star Trek.
Last vacation: Disneyworld.
Biggest influence on your life: Wife, Henrietta.
Likes least about job: Amount of paperwork.
Most embarrassing moment: Answering questions about myself today.
Length of time in current job: 22 years.
Likes best about job: Feeling worthwhile, helping people, accomplishing something.
Proudest moment: The agency received marketeer of the year award from Insurance Marketing Service in 1984.
First thing in the morning: Brush teeth.
Car you drive: Cadillac.
Car you'd like to drive: Cadillac.
Favorite music: Rock 'n roll.
Average work week: 60 hours.
Last cultural event attended: Cats on Broadway
Compiled by BARBARA SHEAR.
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.
Our mission is to help people accomplish something, be safe, and feel worthwhile.
Accomplishing something together gives us a sense of purpose. A sense of purpose means we’ll take our jobs more seriously. We’ll go the extra mile to learn every skill. And our story is just (re)starting.
