What Verdica's 778 score means for Insurance Producer 56
Insurance Producer 56's composite score of 778 out of 850 places it in the "strong" performance band (740–799), indicating reliable operational and financial standing relative to industry benchmarks. This score reflects an entity that meets regulatory expectations across the measured dimensions and carries lower-than-average risk for policyholders and business partners.
A score of 778 means the producer demonstrates solid compliance with state and federal insurance regulations, maintains adequate financial reserves, and resolves customer complaints at rates consistent with or better than peer averages. Readers should interpret this as a signal that the producer operates within normal risk parameters—not perfect, but meaningfully stronger than the median provider.
The score does not guarantee flawless service or zero complaints; rather, it reflects that any complaints or financial metrics observed fall within acceptable ranges when weighted against industry data. A business owner or consumer considering this producer can reasonably expect standard regulatory protections and a lower likelihood of systemic operational failure, though due diligence specific to your coverage needs remains important.
How the sub-scores break down
Financial Strength: 700 This sub-score measures the producer's ability to meet obligations to customers and carriers. A score of 700 (in the upper-acceptable range) indicates the entity maintains capital reserves and liquidity sufficient to cover claims-related liabilities and operational costs. While not in the "excellent" band, this score shows the producer is not financially distressed and poses low systemic risk. Lower financial strength scores would signal solvency concerns or inadequate reserves; higher scores indicate exceptional financial cushion.
Complaints: 800 This sub-score reflects the ratio of substantiated complaints filed against the producer relative to its size and volume of transactions. A score of 800 (in the excellent band) indicates that complaint frequency is low compared to industry norms. Complaints tracked by regulators typically involve claims-handling delays, licensing violations, unfair sales practices, or failure to disclose policy terms. A high complaints score means the producer resolves disputes fairly or operates in a way that generates fewer disputes to begin with.
Regulatory Actions: 850 This is the highest sub-score and reflects enforcement activity by state insurance departments. A score of 850 (excellent) indicates minimal licensing suspensions, fines, cease-and-desist orders, or other formal regulatory sanctions. Regulatory actions are rare for compliant producers; when they occur, they often reflect violations of advertising rules, inadequate record-keeping, or breach of fiduciary duty. Producer 56's score here suggests clean regulatory standing in Ohio.
What regulators in OH track for insurance providers
Ohio's Department of Insurance, in coordination with the National Association of Insurance Commissioners (NAIC), maintains complaint databases and financial reports that form the backbone of Verdica's score. Regulators track complaint ratios—the number of substantiated complaints per $1 million in premium volume—to identify patterns of poor service or sales misconduct. These complaints include claims denial disputes, delay in payments, misrepresentation of coverage, and failure to remit premiums to carriers.
Financial strength ratings rely on audited financial statements and risk-based capital models. Regulators assess whether a producer holds adequate liquid assets to cover its contingent liabilities, particularly in high-volume commercial lines where single claims can be substantial. Licensing requirements in Ohio mandate continuing education, background checks, and adherence to the Insurance Code; violations trigger formal actions recorded in NAIC databases.
Regulatory actions—fines, license suspensions, or consent orders—serve as leading indicators of systemic compliance failure. Repeat violations or failure to remediate flagged issues can result in license revocation. The NAIC tracks these actions across all states, allowing for historical pattern analysis.
Bottom line
Insurance Producer 56 is a strong performer: a 778 score reflects low financial risk, solid complaint management, and clean regulatory standing. Anyone considering this producer should still verify coverage specifics, compare quotes, and confirm they hold proper licensing for your state—but the composite data suggests a trustworthy counterparty with established compliance discipline.