Insurance Cancellations, Rate Increases Further Raise Economic Concerns

Parish President Mike Cooper said the cancellation of tens of thousands of homeowner insurance policies statewide is a cause for concern in the local economy.

“Canceled insurance policies, rising premiums, increased utility costs, inflation and fuel prices are all impacting St. Tammany Parish’s families immensely,” Cooper said. “The heat of summer and the onset of Hurricane Season aren’t making it any better. Although insurance rates are not within my control, I will pursue every available option as Parish President to advocate for the citizens I serve.”

Cooper’s administration reached out to the Louisiana Insurance Commission and requested information about how many St. Tammany policy-holders are being impacted by recent policy cancellations, and is awaiting his response. Nearly 50,000 families statewide are being impacted by these developments. 

“Fortunately, we are entering this difficult season from a place of strength. Our local unemployment rate is below three percent, our housing market is strong, and our business community is diverse and resilient. Millions of local, state and federal dollars are being invested in our infrastructure projects that will improve our already superior quality of life, provide safer, more efficient roads and make our community even safer.”

Cooper’s administration is adapting to ongoing fiscal challenges by reducing costs, streamlining operations and employing policies that will foster an even stronger economy. 

“I always encourage our citizens to remain alert and vigilant during Hurricane Season. This year, I’m also asking them to remain vigilant in the face of economic uncertainty and challenges.  If my Administration or the Parish Council can be of service to you, I urge you to contact us.  If we can’t provide assistance, we will personally find someone who can.”

“Stay safe, aware and optimistic. Our best days are still ahead.”