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Trucking bankruptcies fuel 'hyper-competitive' insurance marketplace

Feb 27, 2024 at 02:05 PM CST

Rising insurance costs have been one of a slew of mounting pressures fueling a boom in trucking company exits. Now, insurers and managing general agents (MGAs) are experiencing a hyper competitive marketplace in some segments after freight carrier bankruptcies and layoffs deflated insurance underwriters’ aggressive growth plans.