Provisions Required at Time of a Home Sale

Excerpt from Mike Maglaras, the Superintendent of CFSIC

Here’s the straight scoop. There is no top end date to the date range for claim eligibility at CFSIC.

Claim eligibility begins with homes built in 1983. That beginning date is set by statute. There is no top end date. It’s not 2015, it’s not 2016, it’s not even today. There is no top end date. That rumor has been perpetuated by persons not associated with the insurance company and with our Underwriting and Claims Management Guidelines.

First, see what is in bold below.

“proof that the building or addition in question was originally constructed during calendar year 1983 or subsequent”

The above in bold is from CFSIC’s actual claim application found on our website. It is one of the required points of evidence. Notice the words “or subsequent.” It doesn’t say 1983 to 2015, for example.

Next, see what’s in bold below.

“For any residential building purchased on or after February 1, 2019, if the buyer of such residential building is aware that the building or any addition(s) to the building, inclusive of any garage, was constructed in 1983 or subsequent, such buyer will only be eligible to apply to CFSIC as a Type 1 or Type 2 claimant if the buyer or seller of the building has tested for pyrrhotite, or has conducted a visual exam for evidence of pyrrhotite conducted by a Connecticut-licensed professional engineer or CFSIC-certified home inspector, prior to the date of sale.”

Note again that it is “1983 or subsequent.” This is excerpted from Appendix 1 to the CFSIC claim application itself. No mention of “2015” or “2016” for example.

So, as you can see, in two specific places, at a minimum, what I have written to you above is absolutely confirmed.

Lastly, there is no state-mandated testing at the pour or prior to pour with respect to residential foundation construction in CT, including aggregate, currently in place… Mike Maglaras

Connecticut Foundation Solutions Indemnity Company, Inc.

c/o Michael Maglaras & Company

Tel: 860-487-0000