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.

Fleetwood, in business since 1956, reportedly had 252 trucks, 673 trailers, and employed 240 drivers. Based in Diboll, TX (100 miles north of Houston), Fleetwood primarily hauled building materials and oilfield equipment. SaferWatch lists two separate accidents involving fatalities that Fleetwood Transportation was involved in within the past twenty-four months (both in 2018). However, while insurance costs were cited as a primary reason, other factors might be considered — one, that the company's two primary lines of business, hauling sand to oilfields and flatbed trucking, both declined significantly in 2019; and secondly, the company was part of a class action lawsuit alleging the company's failure to pay overtime to drivers.