Connecticut governor Ned Lamont has signed into law a bill that will make several changes to the Connecticut Foundation Solutions Indemnity Company (CFSIC)’s enabling legislation.
In a statement, CFSIC, the non profit captive set up to distribute remediation funds to assist homeowners by the ‘crumbling foundations’ issue, welcomed the bill.
The newly signed bill will allow certified home inspectors to audit certain building foundations and to require appraisal management companies to compensate appraisers fairly.
CFSIC said the changes will permit them to serve more homeowners that are affected, particularly those owning condominiums and planned unit developments (PUD).
This bill will allow CFSIC to begin the process of modifying condo claims and applicable PUD claims subject to these legislative changes 15 days from 9 July, on 24 July.
In a statement on the CFSIC website, they wrote: “We are grateful to governor Lamont and his team, as well as to our legislators, for their awareness and realisation of the success of the CFSIC program and the need for continued support.”
