On Wednesday, Eyewitness News learned that insurance companies are starting to agree to participate in a program that would provide money to help fix crumbling foundations.
For families whose properties are crumbling, the repairs could cost $250,000.
Homeowner Tim Heim, who is president of the Connecticut Coalition Against Crumbling Basements, said just four insurance companies have signed on.
In a statement, Connecticut Attorney General George Jepson said “"My office has been engaged for a number of months in negotiations with insurance companies seeking to develop a program through which homeowners who are experiencing crumbling foundations could receive significant financial assistance in fixing their homes. At this time, working in coordination with the Malloy Administration and the Departments of Insurance and Consumer Protection, we have developed a framework for this program, and have received indications from a small number of insurance companies that they would be inclined to participate. While it would be inappropriate to identify those insurance companies at this time, I am grateful for their civic-minded willingness to consider a role in addressing this pressing public problem. However, in order for the program to go forward, we need significantly more companies to commit to take part. I would strongly encourage Connecticut homeowners who are experiencing this problem, or who have friends or family members who are experiencing this, to contact their insurance companies and urge them to take part in this program."
Insurance Commissioner Katharine Wade said “We know this has been a challenging and frustrating time for many families in eastern Connecticut and we take their concerns very seriously. I have been working to bring insurers to the table and we have had productive discussions. I am hopeful that this ongoing dialogue will help address the issues facing affected homeowners.”
“Since the moment my office became aware of this critical issue, we have worked closely with the Lt. Governor and partners across the state,” said Gov. Dannel Malloy. “That’s work that will no doubt continue. Members of the insurance industry in Connecticut have indicated a willingness to be partner in a potential solution – this, we hope, is good news. We are going to continue to work on this issue as we have since day one, as will the Lt. Governor, the Department of Consumer Protection, the Insurance Department and, of course, the Attorney General’s office. We continue to work together, as a state government, to help affected homeowners.”
“This marks progress in our ongoing work to help the homeowners who are dealing with failing foundations. I encourage them to contact their insurers and urge them to participate and be part of the solution,” said Lt. Gov. Nancy Wyman. “We’ll continue to work closely with state agencies and residents—this has been a terrible stress on homeowners, the region, and the state, and we will do all we can to help. The Attorney General has been an important partner and I thank them for their work here.”
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