Letters: Lawmakers must rescue New Orleans area insurance market

We are at a crossroads for homeowner's insurance in Louisiana and the New Orleans 10-parish area, the likes of which we have never faced.

Sen. Page Cortez, R-Lafayette, has elected to delay the insurance subsidy issue until a study in the second quarter. This will kill all first-time homebuyers' sales for all but the wealthy and cause problems with low- to median-income and fixed-income renewals.

We will have small insurance coverage for $275,000 premiums go from $2,500 to $8,000 after Jan. 1 for most new policies. I do not know why they have not timed the subsidy with the increase Jan. 1 and why they delayed it until the second quarter. It will destroy most lending except for the wealthy.

Fixed-income and low-to-moderate people will be most impacted.

KIM HUNTER

mortgage lender

New Orleans