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8 January 2024news

US Government boost Connecticut crumbling foundations group with $2m

The Connecticut Foundation Solutions Indemnity Company (CFSIC) has announced that the Capitol Region Council of Governments (CRCOG) has been awarded $2 million by the US Department of Housing and Urban Development.

These funds have enabled CRCOG to create the Crumbling Foundations Remediation and Restoration Program, which will enable CFSIC-eligible claimants who qualify as low or moderate income claimants under official guidelines to potentially receive as much as $32,000 of additional funding towards costs not otherwise covered under CFSIC remediations.

CFSIC is a captive insurer that was set up to assist state residents with rebuilding crumbling foundations.

For the past decade, cracks have been showing up in home and building foundations because of concrete poured in the 1980s and 1990s, according to state officials. A state report indicates that the mineral pyrrhotite had compromised the concrete produced by a manufacturer during that period, which has led to cracking being reported in homes and buildings across Connecticut.

CRCOG will be working in collaboration with the Northeastern Connecticut Council of Governments as well as CFSIC to make sure that these funds get to those claimants who need them.

To learn more about CRCOG’s new program, go here: https://crcog.org/gap-foundation-funding/

This program is being administered by CRCOG and not by CFSIC. Members of the public, including existing or potential CFSIC claimants, should direct requests for information or assistance directly to CRCOG.

“This is an important day for all of us who have worked hard to assist the victims of this crisis. CFSIC extends its thanks to Representative Joe Courtney and his great team for making this happen and for their continued advocacy on behalf of the victims of the crumbling foundations natural disaster,” said CFSIC in a statement.


More on this story

USA analysis
15 June 2020   The Connecticut Foundation Solutions Indemnity Company (CFSIC) has completed 150 foundation replacements since its launch on January 10, 2019.
Actuarial & underwriting
22 October 2020   The Connecticut Foundations Solutions Indemnity Company (CFSIC) will not provide any more participation agreements to support further work on crumbling foundations until at least July 2021, CFSIC has said.
ILS
8 March 2022   Crumbling foundations captive is making good progress in working through claims, it says.

More on this story

USA analysis
15 June 2020   The Connecticut Foundation Solutions Indemnity Company (CFSIC) has completed 150 foundation replacements since its launch on January 10, 2019.
Actuarial & underwriting
22 October 2020   The Connecticut Foundations Solutions Indemnity Company (CFSIC) will not provide any more participation agreements to support further work on crumbling foundations until at least July 2021, CFSIC has said.
ILS
8 March 2022   Crumbling foundations captive is making good progress in working through claims, it says.