Loop is being liquidated
Last week, we mentioned in the Coverager newsletter that car insurance startup Loop Insurance, which publicly disclosed ~$34 million in funding, “is 100% still running.” In the video, published on December 1st, Loop’s co-founder and co-CEO John Henry mentions going through a “hard time” and that the business looks different today, while adding that he “cannot wait to get into the details” with viewers. As background, we covered Loop in June 2024 when the startup conducted another round of layoffs. In an email we obtained, co-founder and co-CEO Carey Anne Nadeau wrote that leadership was making a “last ditch effort to save the business.”
Yesterday, we highlighted in the our newsletter that Loop’s website, ridewithloop.com, was down. That’s still the case as we write this story. Following our coverage, we obtained two conflicting emails that were sent out to independent agents working with Loop. The first was sent by Carey with an email subject of “LOOP – New Management.” The email doesn’t specify who is part of the new management, but it does acknowledge “service outages” which explains why the website is down. The email was sent out from a different domain – loopinsco.com (the support@linsco was later changed to support@loopinsco). In the past, leadership would send emails from ridewithloop.com.
The second email was sent by John with an email subject of “Important Update Regarding LOOP Operations and Commission Payments.” The email mentions that due to financial challenges, Loop entered into an Assignment for the Benefit of Creditors (ABC), a process where a company transfers its assets to a third-party trustee (assignee) to liquidate and distribute proceeds to creditors. The email acknowledges the website and other systems being offline, and it also mentions an “internal dispute” regarding the company’s assets. This email was sent using John’s ridewithloop.com address.
Based on documents we reviewed, Loop hired a restructuring firm to help with the ABC process, which officially launched on December 4th, 2025. It’s unclear where things currently stand since the ABC process entails minimal to no court involvement.
What we do know is that Loop was indeed still running – independent agents we spoke with said that they have been placing business with the company this past year. One agent mentioned that Loop ditched the D2C channel and is only working with agents. Agents also shared that they weren’t getting commission payments from the company.
We reached out to John Henry who shared the following message: “I deeply believe in Loop’s mission of insuring America’s working class. We look forward to emerging from this restructuring a stronger business so we can continue serving our policyholders.”
We reached out to Cary Anne Nadeau via email and phone but did not hear back.
