Some Connecticut condominium associations with crumbling foundations can seek financial help from a state-run insurance company.
The company says associations can apply on behalf of unit owners for any condo with four or fewer units, and can receive up to $70,000 per unit.
About 500 homeowners have applied for state assistance with damage caused by pyrrhotite, a mineral that’s mixed in with concrete by some quarries.
Some estimates put the number of homes affected as high as 35,000. That could put the total cost in the billions. Several private insurance companies have contributed to the fund, including Travelers and The Hartford.
