Why was the Wind Pool expanded in 2007?
Since the mid-90s, the insurance industry has become increasingly reluctant to provide wind insurance in the coastal counties of South Carolina due to the hurricane threat. The situation became so bad in 2004-2006 that some residents could not obtain wind insurance and those who could found themselves paying very high premiums. The SC Department of Insurance was being pressured to take some action and the expansion of the Wind Pool was the result.
