Massachusetts politicians may need to come up with $350 million in the coming years to help thousands of homeowners whose foundations are contaminated with a mineral that makes them crumble, a problem all too familiar for over 1,000 homeowners in Connecticut.
The Connecticut Foundation Solutions Indemnity Co., or CFSIC, may be about to get an infusion of cash from the state, but its future beyond 2022 remains uncertain.
Connecticut’s congressional delegation said the federal funding they fought for to pay for research on crumbling foundations is included in a spending bill.
The superintendent of the captive insurance company that’s providing financial relief to homeowners with crumbling foundations says he expects dozens more affected homeowners will soon seek help, given recent action by the Connecticut State Supreme Court.
The head of an assistance program for Connecticut homeowners with crumbling foundations has delayed his departure from the organization.
Following the approval of $20 million in new funds from the state Bonding Commission, the captive insurance company charged with funding repairs to the state’s hundreds of crumbling foundations is back in business.
A national search is officially underway to replace the veteran insurance consultant who has overseen the rollout of an ongoing assistance program for Connecticut homeowners with crumbling foundations.
The veteran insurance consultant who has overseen the rollout of an assistance program for Connecticut homeowners with crumbling foundations says he’s stepping aside.
The state’s captive insurance program intended to help homeowners whose foundations were contaminated with a mineral that causes them to crumble and collapse said it cannot accept any new claims until it gets more money.
