What Verdica's 798 score means for BANK OF AMERICA, NATIONAL ASSOCIATION
Bank of America, National Association received a composite score of 798 out of 850, placing it in the "strong" band (740–799). This score reflects reliable performance across the measured compliance and financial dimensions that regulators and consumers typically examine when evaluating an insurance provider.
A score of 798 indicates that the institution has demonstrated solid operational and regulatory standing. It is neither in the highest tier (800–850, "excellent") nor in the acceptable or lower bands. For a reader considering this provider, a strong-band score suggests a track record of managing complaints and maintaining financial stability in line with or slightly above regulatory minimums, without exceptional distinction in either direction.
The score is based on indexed data from the National Association of Insurance Commissioners (NAIC), which tracks complaint ratios and financial strength ratings across the insurance industry. No independent customer reviews are currently indexed for this entity, so the score reflects only regulator-reported metrics, not consumer sentiment.
How the sub-scores break down
Financial Strength: 700 out of 850
This sub-score measures the institution's capital reserves, solvency, and ability to meet policyholder obligations. A score of 700 places financial strength in the acceptable-to-strong range. It indicates the provider holds sufficient assets relative to its liabilities and regulatory requirements, though not at an exceptional or top-tier level. In the insurance industry, financial strength is critical; a lower score here would signal rising concern about claims-paying ability or capital adequacy.
Complaints: 850 out of 850
This perfect sub-score reflects the institution's complaint ratio relative to industry peers and regulatory thresholds tracked by the NAIC. A score of 850 is the highest possible and indicates that the number and nature of complaints filed against the provider are among the lowest in the industry. This does not mean zero complaints—most financial institutions receive some complaints—but rather that the rate of complaints per unit of business is well-controlled and below concerning thresholds.
Regulatory Actions: 850 out of 850
This sub-score evaluates formal regulatory enforcement actions, license restrictions, consent orders, or other compliance violations tracked by state insurance commissioners and federal regulators. A perfect score of 850 indicates no material regulatory actions on record or a track record of swift remediation. This dimension is significant because it reflects direct oversight outcomes, not self-reported metrics.
What regulators track for insurance providers
The NAIC maintains complaint databases that capture customer grievances about policy denials, claims handling delays, billing disputes, and underwriting practices. Regulators calculate complaint ratios (complaints per insured, or per premium dollar) to identify outliers. A provider with a high ratio may face examination or enforcement action.
Financial strength ratings are derived from annual statutory filings and stress testing. Regulators examine reserve adequacy, asset quality, and capital ratios to ensure providers can absorb losses and pay claims even during adverse market conditions.
Regulatory actions—consent orders, fines, license suspensions, or market conduct examinations—are public record and tracked by state insurance departments and federal agencies. A clean record suggests the provider has not triggered formal enforcement by regulators; a record with actions may indicate compliance lapses, fraud concerns, or operational failures.
These metrics move up or down based on changes in complaint frequency, financial position, and enforcement outcomes. A provider's score can shift if complaints rise, capital weakens, or regulators issue formal orders.
Bottom line
Bank of America, National Association scores in the strong range, supported by an excellent complaints track record and solid regulatory standing. A consumer or business owner considering this provider should verify current financial strength ratings and review any recent complaint or enforcement activity through state insurance department databases to ensure the indexed data remains current and relevant to their specific coverage needs.