The veteran insurance consultant who has overseen the rollout of an assistance program for Connecticut homeowners with crumbling foundations says he’s stepping aside.

Michael Maglaras, superintendent of the Connecticut Foundation Solutions Indemnity Co., a captive insurance company created by the legislature, announced Friday he plans to relinquish his responsibilities in October.

Maglaras is principal of the insurance and risk management consulting firm Michael Maglaras & Co. He says help has arrived for the homeowners impacted by the iron sulfide pyrrhotite and more than 150 will be back in their homes by this time next year.

CFSIC President and CEO Steve Werbner said Maglaras has done “a terrific job” in creating a company “that moves quickly and efficiently to get the job done.”

A search is underway for a successor.

CFSIC recently announced it had temporarily stopped accepting new claims until the state is able to provide it with more funding. It has received 958 applications as of Aug. 2. Total incurred claim activity is now $101 million, while the liability for its active claims is $80.8 million and it has received only $40 million in cash as of Aug. 5.