Sunday, December 03, 2006

Bad news for New Orleans...

St. Paul Travelers Cos. Inc., Louisiana's largest commercial insurance provider, plans to cancel all its commercial property policies in the New Orleans area next year, sparking fears that other insurers will follow and slow the region's economic recovery.

This is very bad news for New Orleans. What business is going to want to locate in the city if commercial insurance is not available? It suggests a lack of faith in the reconstructed levees.

In the meantime, crime is out of control in the downtown area. The city has a tough road forward.