pyrrhotite News

Two Insurers to Help Cover Some Crumbling Foundation Costs

Two insurance companies have agreed to provide a total of $10.5 million to help Connecticut homeowners cover the cost of repairing and replacing crumbling foundations, officials said Tuesday. The state has reached separate agreements with The Hartford and Liberty Mutual …

Connecticut Crumbling Foundations Fund Gets Delayed $19M

The new entity charged with overseeing the distribution of state funds to help Connecticut homeowners with crumbling foundations has finally received a long-awaited $19 million. Michael Maglaras, superintendent of the Connecticut Foundation Solutions Indemnity Company, told The Associated Press on …

Connecticut Crumbling Foundations Chief Concerned by Delayed Funding

The superintendent of the new entity that’s expected next month to begin distributing millions of dollars to Connecticut homeowners with crumbling foundations warned state lawmakers Friday he’s within weeks of shutting down if state bond funds aren’t released soon. Michael …

Head of Connecticut Crumbling Foundations Fund Says $1B Needed

The superintendent of a new captive insurance company charged with distributing millions of dollars to Connecticut homeowners with crumbling foundations is warning he doesn’t have nearly enough money to address the problem. Michael Marglaras said he hopes to secure more …

U.S. Agency Pledges Support for Connecticut Homeowners With Failing Foundations

U.S. Housing and Urban Development Secretary Ben Carson pledged Monday to work with federal, state and local officials to help thousands of Connecticut residents whose homes are falling apart because of defective concrete foundations. Carson made the promise while visiting …

Connecticut House Passes $12 Fee to Help Crumbling Foundation Homeowners

Connecticut moved closer Saturday toward adding a $12 annual surcharge on the insurance policies of every residential homeowner to financially help hundreds, if not thousands, of homeowners with crumbling foundations pay for costly repairs. After emotional appeals from eastern and …

Connecticut to Create Insurer to Assist Homeowners With Crumbling Foundations

Connecticut legislators are looking to help hundreds, if not thousands, of homeowners whose foundations are crumbling because of an iron sulfide found in the concrete by creating the state’s own insurance company. The newly minted state budget includes language establishing …

Aid Sought for Crumbling Basements as Homeowners Ask for Federal Probe

While legislators still don’t have a deal on a new state budget, one key senator says there’s agreement on creating a new fund to help thousands of homeowners whose concrete foundations are crumbling because of a naturally occurring chemical reaction. …

Connecticut Homeowners Dispute With Insurers Hinges on Definition of Collapse

Connecticut residents whose home foundations are crumbling are facing a perplexing problem with their insurance policies: The damage won’t be covered unless their homes collapse. More than two dozen insurance companies being sued in federal court by 40 homeowners recently …

Insurers Agree to Help Connecticut Homeowners With Crumbling Foundations

Homeowners in Connecticut are getting some help for crumbling foundations. Connecticut Attorney General George Jepsen said Wednesday the state has reached a deal with a handful of insurance companies to finance a program meant to compensate affected homeowners. The program …