Connecticut officials say two insurance companies have agreed to provide a total of $10.5 million to assist homeowners with crumbling foundations.
Gov. Dannel P. Malloy and Attorney General George Jepsen announced Tuesday the state has reached separate agreements with The Hartford and Liberty Mutual Insurance to help current and former policyholders who file claims and receive awards through the new Connecticut Foundation Solutions Indemnity Company.
The Hartford has agreed to commit $3.5 million while Liberty Mutual Insurance will provide $7 million.
Jepsen says the money will help homeowners bridge the gap between what they receive from the indemnity company and the cost of replacing their home’s foundation.
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Thousands of homes have been affected by the presence of an iron sulfide that has reacted naturally with oxygen and water.
Homeowners can submit applications starting Wednesday by clicking here.