Connecticut captive gets the all clear to begin helping crumbling condominiums
The first Connecticut home with a crumbling foundation due to pyrrhotite has been repaired, thanks to funding from a captive insurance company set up by the Connecticut General Assembly in 2017.
Kevin and Aisling McCloskey received a grant of $175,000 from the captive, Connecticut Foundation Solutions Indemnity Company (CFSIC), to cover the work needed to their basement.
Homes in northeastern Connecticut face crumbling basement walls due to pyrrhotite, according to the Connecticut Coalition Against Crumbling Basements. Pyrrhotite is an iron sulfide that reacts naturally with oxygen and water.
The coalition added that pyrrhotite exposed to oxygen and water reacts and causes swelling and cracking, leading to its deterioration. The damage is said to be irreversible, with no known repairs.
Over 35,000 homes in the north, east, and central parts of Connecticut are facing this potentially devastating issue due to the presence of a naturally occurring iron sulfide originating from a quarry in Willington, CT.
80 homes are expected to have their foundations replaced with funds from CFSIC so far.
CFSIC, Captive, Connecticut, North America