HARTFORD, Conn. (AP) - The veteran insurance consultant who has overseen the rollout of an assistance program for Connecticut homeowners with crumbling foundations says he’s stepping aside.
Michael Maglaras (mah-GLEHR’-us), superintendent of the Connecticut Foundation Solutions Indemnity Company, a captive insurance company created by the legislature, announced Friday he plans to relinquish his responsibilities in October.
Maglaras is principal of the insurance and risk management consulting firm Michael Maglaras & Company. He says help has arrived for the homeowners impacted by the iron sulfide pyrrhotite (PEER’-eh-tyt) and more than 150 will be back in their homes by this time next year.
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CFSIC President and CEO Steve Werbner says Maglaras has done “a terrific job” in creating a company “that moves quickly and efficiently to get the job done.”
A search is underway for a successor.
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