S.C. Insurance Director Scott Richardson expanded the wind pool to the Intracoastal Waterway - and beyond in some areas - on Wednesday, the second expansion in three months aiming to ease the coast’s insurance crisis.

• Homeowners can go to the wind pool Web site at www.scwind.com and put in their address to see if they are now in the wind pool.

• The new line expands the wind pool past the Intracoastal Waterway following S.C. 31 to River Oaks Drive and then follows the waterway into Georgetown County.

• The expansion now includes all of the Waccamaw Neck and parts of the city of Georgetown including the historic district, where Richardson said he learned there was “significant trouble” getting coverage.

• He expanded the wind pool, the state’s insurer of last resort, in March to U.S. 17 Bypass.

The wind pool was also expanded in Charleston County, but the change will be most helpful in Horry and Georgetown counties, he said.

The news came as a surprise to insurance agents and Grand Strand homeowners.

• Richardson said consumers who currently have a policy with a surplus lines carrier should see a reduction in their insurance costs if they obtain coverage through the wind pool.

• But the cost of coverage may increase for those who already have a standard carrier and the wind coverage is excluded.

The expanded wind pool will offer two rates - one in Zone 1, which includes the original expansion, and the other in Zone 2.

• Owners in the second tier, Zone 2, will pay about 20 to 25 percent less than those in Zone 1. This addresses the complaint that people two or three miles back from the beach would be charged the same rates as oceanfront property, he said. People in the new area can buy coverage at current rates after it takes effect June 1, he said.

But in September, the wind pool rates will increase significantly, about 30 percent. The rate increase has been expected - because additional amounts of exposure require new rates.

Source: Jenny Burns, The Sun News, Myrtle Beach, SC