Where We Are
After almost five months of operational activity, CFSIC has processed 168 Participation Agreements.
What this means is that 168 homeowners have either received installments on foundation reimbursements, or their contractors have received deposits…or in many cases progress payments…on foundation replacement work being performed.
CFSIC carries $85.8 million of liabilities on its books for future claim payments, including $67.9 million in active claims.
We have been operational for less than five months, and we are pleased by the number of homeowners we’ve helped; but we are challenged by the number remaining to be helped. We are doing our best to keep the application processing as rapid as we can make it, but always in the context of consistency of approach and fairness in all our dealings.
Condos and PUDs
We are processing applications for condos and PUDs. These applications are entering the underwriting stream now and will, in a couple of cases, enter the payment stream by the end of June.
The Issue of Litigation
CFSIC has applications for several dozen claimants who would otherwise be active and in the payment stream but are not because the applicants are in litigation on an individual or collective basis with commercial insurers. It’s important to note that we are holding statutory reserves for those in litigation who would otherwise be in active status if they were not in litigation.
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