We are this week reviewing a number of Participation Agreements that have been in line, chronologically, since the middle of June. We are closely monitoring the level of our remaining cash on hand from the two bond allotments CFSIC has received. Read more
We are continuing to execute a reduced limited number of Participation Agreements that have been in line since the middle of June, in order to fulfill obligations to homeowners who have been waiting in line while we continue to closely monitor the level of our remaining cash on hand from the two bond allotments we have received. Read more
With Governor Lamont’s signing of the new and revised crumbling foundations legislation, we have made and will continue to make changes to our underwriting and claims management guidelines in conformance with the law. Read more
We have learned that Governor Lamont is expected to sign the new crumbling foundations legislation on July 9. This legislation will make official several needed changes to CFSIC’s enabling legislation, permitting us to serve more affected homeowners, particularly those owning condominiums and PUDs, and in general to better streamline many parts of our process.Read more
With the successful completion of the CFSIC-sponsored home inspector/engineer certification course conducted on June 25, CFSIC now has 47 more sources for foundation evaluation available to homeowners. Read more
As of Friday, June 21, CFSIC holds statutory claim reserves on active claims of $72.6 million. It holds $17.4 million in reserves for inactive claim matters. Read more
On June 11, 2019, CFSIC conducted a day-long home inspector certification course involving more than 300 pages of material on the science of concrete, and aimed at providing home inspectors (as well as engineers) with the knowledge and the tools they need to evaluate concrete foundations. Read more
With the recent legislation package, we are gearing up for important and helpful changes to the CFSIC program. All of these changes are beneficial and will help us get assistance to more claimants, and more efficiently. Read more
I have countersigned 182 Participation Agreements since January 10. This means that foundations are now being replaced, and we have made commitments to replace many more in the future. Read more
After almost five months of operational activity, CFSIC has processed 168 Participation Agreements. Read more