regulatory action News

Kreidler Revokes Licenses of Washington Agency, Issues Fines to Others

Washington Insurance Commissioner Mike Kreidler issued fines in November totaling $63,550 against insurance companies, agents and brokers who violated state insurance regulations, including revoking the licenses of one producer. Following are fines and punitive steps Kreidler took in November and …

Washington Commissioner Deems Zenefits’ Free Software Offer Illegal

This story has been updated with comment from Zenefits. Washington Insurance Commissioner Mike Kreidler ordered Zenefits to cease free distribution of its employee benefits software, saying the tactic violates state insurance law against inducements. Washington is the first state to …

California Fines Online Benefits Firm Zenefits $7M Over Unlicensed Employees

California Insurance Commissioner Dave Jones today levied $7 million in penalties against online benefits broker Zenefits for multiple license violations. Zenefits was charged with allowing unlicensed employees to transact insurance and circumventing insurance agent education requirements. This is the largest …

A.M. Best: Saudi Market Returning to Profitability

The Saudi insurance market continued its strong growth over the first half of 2014 with gross written premium expanding 24 percent compared with the first half of 2013, according to a new Best’s briefing. The briefing, titled, “Saudi Market Rebounds …