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BP Claims Settlement and BP Claims News

BP Claims Ready for the BP Settlement

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BP Claims Process in Transition

Many businesses and individuals already have their BP Claims information together. Most people have their tax information for 2008, 2009, and 2010, you should also get 2007 ready for your BP Settlement Claims. If you have not taken your final for your BP Claims we advise that you don`t at this time, nor should you take a quick pay.

The BP Claims Settlement promises to be much more lucrative then what the GCCF would have given most people. If your BP Claims are at the GCCF they will give you 60% of what is owed and withhold the 40% until after the BP Settlement is underway.

BP Claims and BP Settlement Updates

Many processors and attorneys are seeing many of the BP Claims they had at the GCCF being denied right now. We spoke to one processor yesterday in the Tampa area who had over 100 claims get denied for a myriad of issues. He had an 88% success rate before this occurred.

Therefore many BP Claims are just being documented right now and Consultants and Attorneys are holding off filing them until the BP Settlement process gets underway, and the actual terms are disclosed and not just rumor.

BP Claims and the BP Settlement Process

The big question here is what will be the final calculations for your BP Claims in the BP Settlement process. You may have Business Interruption Claims as well.

We have been consistently hearing of a baseline of 3 times your 2010 losses. We have also heard that you will take your 3 consecutive worst months in 2010 and then look at those same months in 2007, 2008, 2009, or double up certain years for the same months and subtract those numbers to find your loss then multiply by 3 and add future trending losses.

Mind you this is just one aspect of the BP Claims Settlement process, but to many it is the most important. The 3 times multiplier will be larger for certain Industries.

We will Help you Organize your BP Claims for the BP Settlement

We  are here to assist you with any of your BP Claims needs. Some claims will need the assistance of an Attorney, some will just need the help of a BP Claims consultant. We work with different groups of Attorneys and BP Claims Consultants because each group is uniquely qualified to handle certain aspects of the Settlement or the pending litigation. It is in your best interest to have your BP Claims with the group that can best represent your BP Claims.