Zenefits hit with $7M fine by California regulator

The California Department of Insurance fined health benefits broker Zenefits $7 million yesterday.

The San Francisco company's settlement is over a piece of software that enabled California-based staff to complete prelicensing coursework in less than the required amount of time.

Zenefits will only have to pay half of the settlement if it passed a so-called market conduct exam.

“Businesses and consumers should have confidence that anyone selling insurance to them in California is doing so in compliance with our consumer protection laws,” Insurance Commissioner Dave Jones said in a news release.

Read more from The Wall Street Journal.