BP Claims Team Members Example of a Real BP Claim
BP Claims Calculations
7/28/11
This is going to outline a real example of how BP Claims are handled by one of our Team Members, it was just settled. The Client had received an Emergency Advanced Payment of $69,400.00. This amount was given to their business before the documents were calculated by BP. When the documents were calculated after the GCCF took over the BP Claims process from BP, the GCCF said they were overpaid by $33,848.00, and they were not eligible for any Interim BP Claims money. The GCCF later offered them 25k to settle them out, as long as they gave up the right to sue BP in the future, and would not make any future BP Claims.
The Business calls our BP Claims Team to go over the numbers from the GCCF
When being offered Final Payments for BP Claims many people want a second opinion. Our BP Claims Team member calculated the actual loss of 2010 to be $169,516.00 not the $33,848.00 that the GCCF had calculated. The client of our BP Claims Team member was made an offer for 2010 losses of 127,116.00 and took home the check. They have now received a Final Claims offer of $196,516.00 which they have not yet accepted but are considering. This is why you don`t use the GCCF`s calculations when settling your BP Claims. The client will be walking with $323,632,oo instead of the $94,400.00 the GCCF had offered them that is a difference of $229,232.00 less the 15% our BP Claims Team member charged them.
BP Claims Calculations
In order to properly calculate your BP Claims don`t let the GCCF dictate what those calculations should be, or how they should be calculated. It is my opinion that you need to have people on your side that truly know how to calculate your BP Claims loses and are respected by the GCCF. Handling your BP Claims yourself, or handing them off to your CPA is not in your best interest. You need professionals that know the BP Claims process inside out and backwards and have the BP Claims calculations to back up your BP Claims losses, and factor in other related factors thereby maximizing your BP Claims.
