The money will only be made available to homeowners who have also filed an insurance claim with Travelers and who are receiving funding from the
"Since this problem emerged, we have been committed to finding a solution that will assist our customers dealing with this unfortunate and complex issue," said
Under the agreement, Travelers will administer the funds through the Travelers Benefit Program. Each eligible homeowner with a current Travelers insurance policy will receive a maximum of
The money will be supplemental to the funds provided by CFSIC.
The state has been pushing insurance companies to contribute funding to remediate the problem.
"Since we first attempted to establish a voluntary insurance assistance program, Travelers has been a willing partner in trying to devise workable solutions to this looming disaster," Jepsen said. "I commend Travelers for stepping up to the plate with this commitment and for agreeing to work with the state by creating this program. The epidemic of these deteriorating foundations is devastating to these homeowners, but it's also catastrophic to northeastern towns and the economy of the entire state."
Jepsen urged victims and members of the public to call their insurance providers and ask them to establish a similar fund.
For more information on the program visit www.travelers.com/ctconcretefund or call Travelers at 1-800-527-2416.
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