Tag Archives: Settlement Calculations
BP Settlement Calculations.
Many people are having a hard time understanding the BP Settlement multipliers, we will try to help you understand your baseline payment under the BP Settlement.
Mind you this is just how you figure your baseline there are other factors and multipliers that will be added to complete your Settlement equation. There are various multipliers for various types of claims and the zones those claimants inhabit.
BP Settlement Zone A Example
Here is how you would find your baseline under the BP Settlement for a Zone A Business under the BP Settlement. Take 3 consecutive months or more from 2010 after the Oil Spill, take those same months in 2009, 2008, and 2007 and create an average. You can use 2009, 2009, and 2008, or 2009, 2008 and 2007.
So lets say you used 5 consecutive months in 2010 after the spill and you made 100,000.00. You then take the same 5 consecutive months for 2009 and 2008, and came up with an average of 175,000.00, therefore you had a 75,000 loss for 2010.
The RTP or Risk Transfer Premium is 2.5 which means your multiplier is 3.5, so take 3.5 X 75,000.00 and your total is 187,500.00, that is your baseline loss, there are multiple ways to increase that number under the BP Settlement, but it gets pretty complicated.
There are several different zones and Multipliers for different areas and types of claims.
Environmental and other concerns
Report after report has been coming out showing how disastrous the effects of corexit and oil have had on the environment and on us. The data is just flat out not pretty. A diver that had two of his colleagues commit suicide and he has seizures after diving through contaminated water after being assured by a BP executive it was safe.
The death and illness of the blue crabs and the Dolphins of Barataria Bay are front page news. We are seeing the affects of the Oil Spill everywhere.
One of the biggest concerns I have is the link to high blood pressure we keep hearing about, especially from the Oystermen and women who spent their lives in now contaminated water.The calls we have been getting are horrendous and come far to often these days. High blood pressure can lead to Heart Attacks and Strokes as well as death, please get checked out. We have heard that members of the National Institute of Health are coming in to investigate and we look forward to hearing the results.
Our BP Settlement Team
Well it looks like we will be adding a few new members to the Team soon.We have told you since beginning that our Team would evolve as needed. As we figure out the BP Settlement we are finding all sorts of fantastic ways to help you in areas that under the GCCF rules we could not.
There are some really great things coming for you, and they will be a great benefit for you, and help you get the most out of your BP Settlement.
We are not Attorneys and we can not give you legal advice, what we can do is tell you the truth, as wee see it, and isn`t that all we all ever wanted to know from the start of this catastrophic event.
Our licensed BP Settlement Claims Adjusters charge 7.5%-15% for helping you with your claims.
Attorneys are available upon request.
We will help you with your BP Settlement.