compliance issues News

Zenefits Fined $1.2M for Violations of New York Insurance Law

The New York State Department of Financial Services (DFS) has fined YourPeople Inc., doing business as Zenefits FTW Insurance Services, $1.2 million for allowing unlicensed employees to sell insurance and failing to implement adequate compliance controls and employee training, according …

Texas Insurance Officials Fine Zenefits $550K for Noncompliance

The Texas insurance regulators have fined human resources software startup, Zenefits, $550,000 for its past use of unlicensed health insurance brokers. The Texas Department of Insurance said YourPeople Inc., more commonly known as Zenefits, used unlicensed staff to sell and …

Top 10 Market Conduct Issues for P/C Insurers

A review of state insurance regulators’ examinations of U.S. property/casualty insurers shows that claims-handling, underwriting and producer requirements continue to be the top criticisms. According to compliance and risk management firm Wolters Kluwer Financial Services, the data compiled for its …

ACE Provides Insights on Challenges, Solutions for Cross-Border Marine Insurance

ACE Insurance, part of the ACE Group of insurance and reinsurance companies, based in Singapore, recently released a report on Structuring Multinational Insurance Programs for the marine markets. The report was jointly written by Suresh Krishnan, General Counsel for ACE’s …