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Nationwide now has alot of info up on their site on the proposed new Enhanced HO:

http://www.nationwide.com/newsroom/...oposal.jsp

This article sounds like if a person has the Nationwide policy, 100% of all the wind/flood damage will be covered up to the usual  limitations. I tried to print out the PDF policy to read it myself.

The APS would be a very big problem if the white picket fence was flat on the ground from seaweed entangled in the pickets. Also the detached auto garage had the metal door pushed to the back wall and the back wall was washed out, but the two perpendicular side walls remain. I have to read this little flood bonanza myself. Not a shingle missing on the roof and the adjuster says its all wind. How about all the rugs that had muck blown into them.. Oh boy, lets hook up with Nationwide, if the fee bill is not 25% less than NFIP billing schedule( It should be as you are working both losses at the same time and you Texas Red Necks make too much anyway).

With further reflection this is really a good plan. I would think the policy for perils other than flood would not be issued if  flood was not included. The HO section would not be a standard ISO HO-3 and the gaps could be covered. Very good Nationwide this is when private insurance is trying to meet consumers needs.

This is a topic that IA adjusters should chime up on. We are citizens, taxpapers and require basic and expanded property insurance. After Katrina the governmemt wanted to rake over both wind/fllod. Nationwide is using the NFIP as the reinsurance carrier for the devastation peril of flood. Now lets cry out to the carriers and the press to get the other carriers competing for this business.

Just keep in mind if your primary residece in near an ocean the wind/flood insurance should be about 400% higher that other less risky locations.

Ray,
I get the impression that there are only certain factions of the "government" that wanted to take both the wind /water perils into a new form that would combine the two perils in one coverage form,.  It would have added ALE and maybe business interruption for flood, upgrade the other structures coverage, insure basements for flood, etc. This faction was spearheaded mainly by the senators and representatives from the gulf coast states as their constituants would be the ones that would most benefit from it. That being said, you can count on the fact the rest of the country would be subsidizing their low costs, and the coastal exposure wouldn't be charged for the risk involved, just like they weren't under the flood program.  Other provisions limited the amount of rate increases per year.  I for one would love to see a policy that would cover flood and wind together with little or no gaps in coverage, but would prefer to see it done by the private industry vs the government as we all know how well they can run things. By the way, the 2-3 times that the gulf states have tried to push their version of the mupti-peril flood bill it has been shot down by congress, Bush has come out against it (said he would veto it if it made it to his desk) and McCain has also come out against it.  Haven't seen how Obama sits on it, but there has been a vote on the senate floor, so if he voted it might tell. Don't know how to look that up from here. The last vote in the senate was 73 against it and 19 for it, and I think that was about 4 months ago.

Thanks to Meg for the link to Obama's voting record which I'll put at the end of this.  I'll cut and paste the time frame of the last voting on how he voted, or didn't on the flood coverage issues:

Click here: Barack Obama - U.S. Senator for Illinois

I am not for federal wind/flood coverage at all. I am not for people who total losses to property getting federal handouts each time it floods. As I recall your house can only flood three times if its insured by FLOOD. Now that seems not fair, as the people who have never paid a cent for flood insurance can keep getting handouts. I thought one part of the handout was go to an agent and buy a policy and then the house was in the system.

I think its great business for Nationwide to buy the reinsurance from NFIP and then change the ALE coverage to cover this expense, EVEN if 99% is solely from flood. You know the others will rush in and when you get one you have to get both. The underwriters would cherry pick the risk as is their right. BUT the houses next to the beach will be zillions if the can be built and washed away, build and washed away. Hell in the outter banks  of NC each house is 750 k to 1 mil value with a 20 foot sand dune holding back the Atlantic Rated as an A ZONE. Its politics and bankers nothing more. The should insure these houses under an inland marine yacht policy, but the darn things will not float.

Any of you Nationwide savy persons up to date on the flood coverage inside their Homeowers policy that was a topic this time last year?