Regulators Begin Insurance Education Effort

NU Online News Service, Jan. 14, 4:09 p.m. EST? The National Association of Insurance Commissioners, based in Kansas City, Mo., says most people don't know enough about insurance- so it is launching a program to educate them today.

According to the NAIC, a recent national survey showed although most Americans feel they have about the right amount of coverage (67 percent), but only 28 percent claimed to know the details of their coverage "very well." And, only 14 percent of respondents had ever contacted their state insurance department for help.

In response, the National Association of Insurance Commissioners (NAIC) is launching a national effort -- "Get Smart Week" -- to encourage people to learn more about the insurance they already own or need.

The NAIC said people buy insurance for peace of mind, yet most have no idea if they have too much or too little coverage or if the rates they pay are reasonable. State insurance departments are a little known source of free and much-needed advice, the regulators group said.

During Get Smart Week from Monday to Friday consumers will be urged to get unbiased help and education about insurance from their home state insurance department.

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