For the past several years, the market for truckers insurance could be said to be “hard” overall, characterized by increased premiums and a lack of insurers willing to assume the risk. While this may not be the case for companies with excellent safety records and no losses, those companies that have questionable safety records and/or crash losses are struggling to obtain affordable insurance. Last week saw yet another trucking company ceased operations, joining a group of hundreds of trucking companies that have shuttered operations in 2019.
On December 31, 2019, Fleetwood Transportation Services joined the rapidly growing list of transport carriers shuttering operations in 2019, citing insuring costs as the reason for its shutdown. Other companies in demise include Celadon, Falcon Transport, LME, NEMF, Williams Trucking, A.L.A., Starlite Trucking, Terrill Transportation, and Carney Trucking, just to name a few.
Copyright © 2022 ALM Global, LLC. All Rights Reserved.