All the headlines from our Root Insurance Topic Page, ordered by recency.
Jun 22 2023 // Root Inc’s former chief marketing officer – accused in a lawsuit by the company of syphoning $10 million from it – was ordered detained for contempt of court, and he will need to find another way to pay his...
May 26 2023 // According to court records, Root Inc’s former chief marketing officer – accused of stealing about $10 million from the company – has not made court appearances, spent money in violation of court orders, and has a...
Mar 2 2023 // About one year into his employment with Root Inc. and a week after he helped the company report fourth-quarter earnings, Chief Financial Officer Robert Bateman has been fired for violating company policies.According to a...
Feb 23 2023 // Calling embedded insurance the “next secular trend in distribution,” Root Inc. CEO Alex Timm in a letter to shareholders said the company has an advantage to scale access in the channel and become...
Feb 21 2023 // A U.S. district judge has granted a motion for a temporary restraining order requested by Root Inc. against its former chief marketing officer to prevent him, his companies, or associates from selling or transferring any...
Feb 20 2023 // Root Inc., the parent company of Root Insurance, has followed up its investigation into almost $10 million of unauthorized payments with a lawsuit against its former chief marketing officer.According to the suit, filed in...
Feb 6 2023 // Root Inc., the parent company of Root Insurance, has followed up its investigation into almost $10 million of unauthorized payments with a lawsuit against its former chief marketing officer.According to the suit, filed in...
Jan 10 2023 // Technology company Root Inc., the Columbus, Ohio-based parent company of Root Insurance, is conducting an internal investigation into a series of payments made without prior disclosure to the company’s management by...
Nov 21 2022 // Root Inc. reported a third-quarter net loss of $64 million, down from a net loss of $133 million during the same quarter last year. Year-to-date losses sit at $230 million, which is down from $411 million at the end of the...
Sep 16 2022 // At a time when auto insurers react to inflation shocks by filing rate increases at a frenetic pace, an insurtech CEO says automation of the activity is speeding his company’s actuarial rate indications onto...
Jun 6 2022 // Verisk Names Mourad President of ClaimsInsurance data analytics firm Verisk announced that Maroun Mourad will begin serving as president, Claims Solutions, on July 1, succeeding Rich Della Rocca who is retiring. In his...
Mar 23 2022 // Root, Inc. has hired Rob Bateman as its new chief financial officer, effective April 11.Bateman joins Columbus, Ohio-based Root as CFO with over two decades of broad strategic, financial and operational experience across...
Mar 8 2022 // While he didn’t say that distribution of Root Insurance products through independent agents was off the table in 2022, the insurtech’s chief executive officer did say during a recent earnings call that the...
Jan 27 2022 // Days after it announced it had to lay off 330 employees due to worsening loss costs, auto insurer Root Insurance has finalized a $300 million term loan from BlackRock Financial Management.The five-year loan will carry an...
Jan 24 2022 // Technology company Root Inc., the Columbus, Ohio-based parent company of Root Insurance, announced yesterday that it has laid off approximately 330 team members throughout its business.Co-Founder and CEO Alex Timm in an...
Aug 20 2021 // Digital auto insurer Root saw its loss ratio spike in the 2021 second quarter as higher costs for repairs, used vehicles and miles driven rose above pre-pandemic levels.But the Ohio-based insurer continues to report growth...
May 12 2021 // Root Inc., the parent company of Root Insurance, has named Christine Patrick vice president, Investor Relations. Patrick comes to Root with more than 10 years of insurance-industry experience, both in investor relations...
Mar 24 2021 // With shares of Root Inc. trading at less than 50 percent of the late October 2020 IPO price of $27 per share, the insurtech carrier has been named in a shareholders class action complaint, Carrier Management has...
Mar 4 2021 // Root Inc.’s second earnings report as a public company reveals that the digital auto insurance startup continues to lose substantial amounts of money but it is generating substantial premium and customer growth...
Oct 28 2020 // Automobile insurance startup Root Inc. sold shares in its initial public offering (IPO) on Tuesday at $27 apiece, above its target range, to raise $724.4 million, the company said.Root, which has $200 million in debt, sold...