December 07, 2016
Missouri Insurance Regulator imposes $62,000 enforcement action against Zenefits
Jefferson City, Mo. - The Missouri Department of Insurance, Financial Institutions and Professional Registration (DIFP) announces a Voluntary Forfeiture Agreement with YourPeople, Inc., DBA Zenefits FTW Insurance Services whereby the San Francisco based company has agreed to pay a penalty of $62,000 for violations of Missouri law.
The penalty and agreement represent months of investigation by the department’s Consumer Affairs Division of the business entity producer related to the admitted unlicensed activity in the state of Missouri by individual Zenefits employees. Zenefits self-reported the poor business practices, which occurred under previous leadership. New management at Zenefits has demonstrated a desire to be in compliance with the law and instituted new agent training requirements and licensure controls.
“Missouri law requires that individuals who sell, solicit or negotiate insurance in the state of Missouri be licensed,” said John M. Huff, Director of the Missouri DIFP. “This department will continue to do everything in its authority to protect Missouri consumers.”
Consumers are encouraged to file complaints against agents or insurance companies they believe have violated Missouri law. Last year alone, the department processed 4,177 consumer complaints and took 230 enforcement actions in the public interest.
Missourians can also check the current license status of insurance producers by visiting the Insurance Agent/Agency Search on the department's website.
Consumers with complaints and general questions can call the department's Insurance Consumer Hotline at 800-726-7390, or visit insurance.mo.gov.
About the Missouri Department of Insurance, Financial Institutions & Professional Registration
The Missouri Department of Insurance, Financial Institutions and Professional Registration (DIFP) is responsible for consumer protection through the regulation of financial industries and professionals. The department's seven divisions work to enforce state regulations both efficiently and effectively while encouraging a competitive environment for industries and professions to ensure consumers have access to quality products.