BP Business Claims
BP Business Claims and The BP Settlement
The DeepWater Horizon Settlement has a variety of mechanisms in place for a business to prove it has a legitimate claim under the terms of the BP Settlement.
There is the V Test, the modified V Test, and a myriad of others. Some of these tests will change formulas, depending upon what zone you are in and what type of business you are in.
This is a complex group of calculations, that depend highly upon your businesses location, and that of your customer base. Documentation is key, and the presentment of it paramount.
Creating a baseline of at least 3 consecutive months after the spill in 2010 compared with 2009, and or 2008, and 2007 is also essential.
To learn more you may want to talk to more people who have worked through their BP Business Claims on our Facebook Page.
Business claims also depend highly upon what zone you are in, if you are in a zone A location causation is automatically assumed. Your multipliers can be as high as 3.5 your 2010 losses.
If your in zone B, C, or D your multipliers change dramatically, and you will need to jump through some more hoops. Again, who your business caters to will come very much into play, those that rely heavily upon tourism will reap the biggest rewards.
Under the New Leadership at The DeepWater Horizon Settlement, they are trying very hard to treat all claims fairly, this is a very complex process.
How We Handle BP Business Claims
We process many BP Claims in house.
We have also aligned ourselves with the Best CPA`s and Claims Adjusters in the Country, they have been processing BP Claims from the beginning. They have over 300 CPA`s and whole division that specializes in BP Business Claims. This is what they do, and in my estimation they are truly the best.