Crumbling Foundation Insurance Board Needs Members

The insurance company managing crumbling foundation assistance in Connecticut is looking for board members.

Here is the announcement from state Rep. Jeff Currey (D-East Hartford/Manchester/South Windsor:

The captive insurance company to be established for the purpose of assisting homeowners with crumbling concrete foundations is now accepting applications for board members.

“This is the next step in getting the captive insurance company up and running so it can begin distributing remediation funds. I encourage community members impacted by this issue and industry professionals to consider applying,” Rep. Currey said.

The applications will be reviewed by the incorporators and organizing committee of the captive insurance company, Connecticut Foundation Solutions Indemnity Company, LLC (CFSIC).

Per statute, the Board of Directors must have each of the following members:

· A real estate agent or broker

· A homeowner impacted by crumbling foundations

· A Chief executive of a municipality or the designee of such chief executive

· A registered investment adviser

· Executive Director of Capitol Region Council of Governments or designee of such executive director

· Executive Director of Eastern Region Council of Governments or designee of such executive director

· A representative from the insurance industry having no relationship with any bank or insurance company that has financial interest in crumbling matters

· A representative from the banking industry having no relationship with any bank or insurance company that has financial interest in crumbling matters

The deadline for submissions is Friday, April 27, 2018, 5:00 PM EST.

Interested parties can obtain an application form by contacting CFSIC’s Incorporators and Organizing Committee at CFSICLLC@gmail.com.

Photo Credit: Chris Dehnel