HARTFORD, CT (WFSB) - Gov. Dannel Malloy and Attorney General George Jepsen announced agreements with two insurers to provide supplemental assistance to help homeowners with crumbling foundations.
The separate agreements were made with The Hartford and Liberty Mutual and announced on Tuesday.
The assistance will help current and former policyholders who file claims to receive awards to remediate their crumbling concrete foundations through the state's new captive insurance program.
“The crumbling foundation crisis is a widespread and complex problem that requires all stakeholders to be a part of the solution,” Malloy said. “These commitments from The Hartford and Liberty Mutual represent significant progress for affected homeowners, and I applaud both companies for stepping up."
The Hartford will will administer The Hartford Benefit Program and commit $3.5 million to it. Current or past policyholders who are experiencing deterioration of their foundation due to the presence of the mineral pyrrhotite in the concrete, and who have also opted to participate in the assistance program launching through the Connecticut Foundations Solutions Indemnity Company, will be eligible for this supplement.
For Liberty Mutual past and present policyholders, it will administer the Liberty Benefit Program and commit $7 million to the program.
Participation in the programs will be voluntary.
Malloy and Jepsen said it's available to qualifying homeowners, but not required for CFSIC general assistance.
“I commend The Hartford and Liberty for coming to the table to be a part of the solution to the crumbling foundations problem,” Jepsen said. “These funds will help many homeowners to bridge the gap between their CFSIC benefit and the cost of replacing their home’s foundation."
Consumers with related questions can contact the Connecticut Insurance Department at 1-800-203-3447 or the CFSIC by emailing firstname.lastname@example.org.