Zenefits Takes $550K Hit by Regulators, Promises Compliant Future

Zenefits, a human resources software tech firm, will have to pay a $550,000 fine to Texas for using unlicensed staffers to sell insurance in the state, after collecting $1.6 million in commissions in less than six years, the Texas Insurance Department announced Friday. The Texas fine is the latest in a string of actions taken by insurance regulators around the country against the San Francisco-based company, which was once tagged as one of the fastest growing software companies of all time. According to an Oct. 12 report by the New York Times, regulators in eight states have settled with ...