"The crumbling foundation crisis is a widespread and complex problem that requires all stakeholders to be a part of the solution," Governor Malloy said in a press release. "These commitments from The Hartford and Liberty Mutual represent significant progress for affected homeowners, and I applaud both companies for stepping up. (Photo: iStock) "The crumbling foundation crisis is awidespread and complex problem that requires all stakeholders to bea part of the solution," Governor Malloy said in a press release."These commitments from The Hartford and Liberty Mutual representsignificant progress for affected homeowners, and I applaud bothcompanies for stepping up. (Photo: iStock)

Governor Dannel P. Malloy and Attorney General George Jepsenannounced that the state of Connecticut has entered into separatememoranda of understanding with The Hartford and Liberty MutualInsurance to provide supplemental financial assistance to currentand former policyholders who file claims and receive awards toremediate their crumbling concrete foundations through the state'snew captive insurance program.

Under its agreement, The Hartford willestablish and administer The Hartford Benefit Program and commit$3.5 million to the program. Under its separate agreement, Liberty Mutualwill establish and administer the Liberty Benefit Program andcommit $7 million to the program.

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Denny Jacob

Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected].