captive insurance

Financial assistance for homeowners with crumbling foundations will soon be released.

Connecticut’s elected leaders pledged $100 million in $20 million annual portions to address the crumbling concrete basements across central and northeastern Connecticut, but an inability to release the money in a timely manner has left dozens of families in a costly state of limbo.

The person overseeing the program helping so many suffering from concrete crumbling beneath their homes told NBC Connecticut Investigates he is stepping down earlier than planned.

The new entity overseeing distribution of state funds to help Connecticut homeowners with crumbling foundations has finally received the $19 million it’s been seeking for several months.

The superintendent of the new entity charged with distributing millions of dollars to Connecticut homeowners with crumbling foundations says he’s within weeks of shutting down if state bonding isn’t released.

The superintendent of the new entity charged with distributing millions of dollars to Connecticut homeowners with crumbling foundations says he’s within weeks of shutting down if state bonding isn’t released.

The “captive insurance company” set up by the state to give grants to people whose homes have crumbling foundations is closer to being in operation, but not there quite yet.

An Ashford resident will be the superintendent of the Connecticut Captive Insurance Company charged with paying out claims to homeowners with collapsing basements.