More Help for Contractors
We’ve provided more help for contractors to get them started.
With regard to both Type 1 and Type 2 claims, we have made the calculation process easier to understand and improved the calculation worksheets to make them easier for you to complete.
For Type 1 claimants, there’s now a contractor’s help sheet to assist with the proposal process.
For Type 2 claimants, there’s also a contractor’s help sheet to assist with the cost calculation process for foundations already replaced.
ESIS, our outsourced claims adjustment firm, will be contacting a handful of contractors to ask them to cooperate with us by re-doing their Type 2 worksheets based on the new form. We know this is time-consuming for contractors, but we ask the help of all contractors on this…it’s a needed service for your communities and for your homeowners. The time you spend is helping to rebuild people’s lives.
Our thanks to all contractors for making a difference in our success.
Payments to Type 2 Claimants
ESIS will begin making first installment payments to a handful of Type 2 claimants this week. These will be claimants whose Participation Agreements have been completed and all documentation has been received.
Where We Are
CFSIC has received a combined total of more than 400 Type 1 and Type 2 applications. We ask you to bear with us, as we think we are close to beginning the process of alerting the first group of Type 1 claimants to begin the contractor proposal process.
Among all claimants to date are 65 Type 2s, where we have determined that approximately 32 are active according to CFSIC’s guidelines. In a handful of cases, we require additional backup from the homeowner or contractor, but the process of moving these claimants, one by one, into the payment stream continues.
Have We Run Out of Money?
We have not.
The initial application flow during the first week of enrollment was slower than anticipated. This means that with respect to Type 1 and Type 2 claims, and given our anticipated flow of funds, CFSIC is still very much accepting applications.
We encourage homeowners with valid claims to file them with CFSIC. There is no way that we’re going to be able to help the people who are suffering through the crumbling foundations natural disaster unless we know who you are.
Remember the way CFSIC works…we are accepting your applications and posting claim liabilities on CFSIC’s books, the total of which already exceeds, by a great margin, the cash we have on hand. It’s the way the CFSIC program works. CFSIC has made promises to the public that it can only keep if we actually receive our funding.
The Issue of Condos
I have asked for another meeting with one of the larger condo associations. During that meeting, which I have required be with the association’s board of directors, I will lay out a couple of possible scenarios to bring needed aid to condo owners. I repeat my offer to meet with any condo association board of directors at any time. We are willing to work closely with condo associations and their owners to figure out ways to modify CFSIC’s program in order to get needed funds to condo owners who in fact do not own the foundation their units sit on.
These meetings are not about changing the enabling legislation language. These meetings are about how we figure out a way to effectively set aside funds for replacements.
However, we can’t do anything at all if condo associations don’t contact us and engage with us. We hear from dozens of condo owners…we hear almost nothing from association boards of directors. Meeting with condo owners is simply not as constructive as meeting with a board that can legally commit the association to engage with us.
A specimen of the bond wording required for each contractor doing business with CFSIC is up on the site and can be found here. Contractors should provide this bond wording to their agents or brokers for completion. Please remember that it is a requirement that CFSIC have a bond in hand before any payment can be made to a contractor.
If you have any questions about the operation of the program, ESIS is your best source of information on your claim, and their phone number and email are shown below.
As you work through the information and application process, here’s how you can get help:
– Call ESIS (the claim adjuster) at: 844-763-1207
– Email ESIS at: firstname.lastname@example.org
– Email CFSIC at: email@example.com
Michael Maglaras, Principal
Michael Maglaras & Company