Root Insurance News

Auto Insurer Root to Pay New York $975K Over Data Breach

New York Attorney General Letitia James has secured $975,000 in penalties from auto insurance company Root over a data breach that the state says exposed the personal information of about 45,000 New Yorkers. Root does not offer insurance in New …

Insurtech Root Finishes 2024 With First Yearly Profit

Root Inc. followed up its first ever quarterly net profit in the third quarter with another in the last quarter of 2024, and finished with the first profitable year in the company’s history. The Columbus, Ohio-based parent company of Root …

‘Pivotal’ Q3 Sees Insurtech Root Achieves Net Income Profit for the First Time

For the first time in the company’s history, Root Inc. recorded a quarterly net income profit. The Columbus, Ohio-based parent company of Root Insurance founded in 2015 recorded third quarter net income of about $23 million compared to a net …

Hippo’s First Connect Partners With Root Insurance on Quote and Bind Process

First Connect Insurance Services and Root Insurance said they are partnering to offer API-powered quote and bind capabilities to independent agents. First Connect, a subsidiary of insurtech Hippo, is a digital platform designed to provide independent agents access to some …

Former Root Marketing Exec Pleads Guilty to Taking Over $10 Million From the Insurer

Brinson Caleb “BC” Silver, former chief marketing officer for insurtech Root, has pleaded guilty to stealing more than $10 million from his former employer and violating court orders. According to the U.S. Attorney’s Office for the Southern District of Ohio, …

Root Inc. Files for Default in Litigation Against Jailed Former CMO

The nearly year-long saga involving Root Inc. and its former chief marketing officer continues – with him in county jail. Brinson Caleb “BC” Silver, Root’s CMO from November 8, 2021 to November 9, 2022, has been in jail in Butler …

Insurtech Root Says it Has No ‘Actionable’ Bid

Root Inc. said Thursday that it does not currently have an actionable bid for its acquisition. Thursday’s statement was issued following reports Root had received a bid from Embedded Insurance. The Columbus, Ohio-based parent company of Root Insurance said its …

Former Root CMO Ordered Detained for Contempt

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 attorneys. …

Fired Root CMO Accused of Stealing Millions Spends ‘Lavishly’; Judge Appoints Receiver

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 bench warrant out for …

Root Inc. Says CFO ‘Terminated for Cause’

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 filing with the U.S. Securities …