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BP Individual Settlement Claims

The BP Settlement Agreement negotiations affecting BP Individual Settlement Claims has taken a new turn. There is a new set of calculations and new designated Zones. This will affect individuals with BP Individual Settlement Claims.

We will keep you posted as the new details about the BP Individual Settlement Claims becomes available to us. Keep in mind of the following:

What does the Change Mean for BP Individual Settlement Claims?

 For BP Individual Settlement Claims, if the calculations have changed, expect the RTP multipliers to have changed. Specifics as to the multiplier/RTP may have changed for BP Individual Settlement Claims.

Previously, we mentioned that the projected losses were derived from your worst 3, 2010, Post-Spill months. This, apparently, is not going to be the case for BP Individual Settlement Claims. We will post the changes when we know what they are and will not speculate as to what they may be. Stay tuned.

What about the Zones?

 For BP Individual Settlement Claims, it used to be that:

–         Zone A: causation was presumed and it extended to New Orleans to Ft. Myers, FL.

–         Zone B:Causation was proven in the financial losses, with a slight gain in 2011.

–         Zone C: Causation had to be proven through documentation and there had to be a financial loss.

–         Zone D: Causation had to be shown by showing a specific reliance on Gulf resources. In other words, you had to prove dependency on tourists to the Gulf, and/or the fishing industry.

Now, the Zones for the BP Individual Settlement Claims have been changed and are not known at this time due to confidentiality the PSC must maintain. We will keep you posted when we know something. Stay tuned.

 What We Do Know:

First of all, the PSC policy of reviewing anybody who had experienced financial loss after the Spill, will still be in place.

Secondly, the BP Individual Settlement Claims program will still be opened up to many people who had been denied before.

 What to Do?

 You can file BP Individual Settlement Claims yourself or tap into our network of attorneys and claims adjusters for you BP Settlement. We will put you in line to be reviewed through our network with internal contacts to the System.

Keep checking our site frequently for new news updates. Or, you can give us a call to be placed on our email list to receive updates. We will keep you posted with regards to changes in the BP Individual Settlement Claims Program.

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