Free Republic

A change in insurance policies could be coming to the trucking industry, signaling a major shift in their approach to non-domiciled commercial driver’s licenses (CDLs). As enforcement of the new non-domiciled CDL rule takes shape, insurance companies are likely to position themselves to avoid potential liability exposure. According to an insurance executive at one of the largest brokers in the country, who spoke on condition of anonymity, he expects that insurance carriers are likely to implement policy changes that explicitly prevent the hiring of drivers with non-domiciled CDLs within the next year. The concern stems from the potential for “nuclear...

Mutha Trucker, a YouTube news source covering the trucking industry has reported that Montgomery Transport LLC, a Birmingham, Alabama-based trucking company, filed for Chapter 7 bankruptcy and ceased operations effective immediately. 1000 employees out of work as trucker files for bankruptcy The sudden shutdown has left hundreds of drivers stranded across America as the company’s leadership instructed them to halt operations. This abrupt closure represents a significant disruption in the trucking industry and has created immediate challenges for both drivers and clients dependent on Montgomery’s freight services. Details of the Bankruptcy Filing The company officially announced its Chapter 7 bankruptcy...

Remember when freight, trucking and logistics data provider Freightwaves warned at the last day of April that a freight recession was imminent and was set to cripple the trucking sector and broader economy (prompted Jim Cramer to declare that “Mr Freightwaves” knows nothing). Well, as always, Cramer was wrong and Freightwaves was right, and today we are seeing nothing short of bloodbath in the trucking and logistics space, where stocks have plunged the most in over six weeks amid weak outlook from several retailers, including Target, which just like Walmart plunged the most since 1987 as inflation crippled its profit...