Zenefits Hit With $1.2M Fine From New York As Fallout Over Practices Continues To Reverberate
The California-based startup has faced penalties in several states.
Zenefits Fined By NY Regulator For Unlicensed Insurance Sales
Health benefits broker Zenefits was fined $1.2 million ... for letting unlicensed employees solicit, negotiate and sell insurance policies, the latest regulatory blow for the software startup. Zenefits in 2014 and 2015 engaged in "repeated" violations of the state's insurance law, including failures to maintain adequate compliance controls and train employees, said the New York State Department of Financial Services (DFS). (Stempel, 4/11)