Understanding BP Business Claims

This website was created by the Team at BPClaims.org, for the latest information regarding the BP Oil Spill please go there.

On April 20^th, 2010 the Deepwater Horizon Drilling Platform exploded killing 11 workers and spilling untold millions of barrels of oil into the Gulf of Mexico.  The resulting spill caused billions of dollars to be lost throughout the Gulf States Region.  BP has publicly stated that they will make your business whole and now they have reached an agreement to pay many of these claims.  Recently BP agreed to a settlement that compensates businesses, both large and small, throughout the states of MS, AL, and LA along with parts of FL.

Qualifying For Compensation

In the days of Ken Feinberg and the Gulf Coast Claims Facility (GCCF) it was not clear who qualified.  Your business might have been denied while your direct competitor located next door could have received an obscene amount of money.  There did not seem to be any rhyme or reason to who received payment and who did not.  There also did not seem to be any transparency as to the amount that was received.

The New BP Settlement

The BP settlement that has been reached between BP and the Plaintiff’s Steering Committee on behalf of many claimants has made giant strides in the right direction.  While there are businesses that will not qualify for payment under the settlement there are many that will.  The good news is that there are multiple ways to qualify for payments and many of the payments seem to go above and beyond what was expected previously.

Another benefit the settlement brings is that businesses that were thought to not have been affected based on the geographical location (not directly on or near the coast) now have an opportunity to receive a payment from this settlement.  The settlement region has been broadened in recognition of the impact of the oil spill throughout our regional economy.

BP Settlement Example and The V Test

A construction company located in northern most parts of AL, MS or LA now has the opportunity to recover damages if they meet the simple qualifications.  You basically qualify when any three consecutive months in the post-spill portion of calendar year 2010 have a decline in gross revenues against the same months in any one of three benchmark periods (2009, the average of 2008 & 2009, or the average of 2007, 2008 & 2009) and then rebounds in those same three months in 2011.

This decline and rebound is called the “V” – Shaped test.  The decline and rebound percentages are set by Zone, based on whether your business is located in Zone A, B, C or D.   We have seen hotels in north AL that are now able to establish a loss and qualify for payments.  An architectural firm in Birmingham qualified for payment because it met the “V”-Shaped test.

Companies significantly inland in the Gulf coastal counties of Central and Southwest Florida are now eligible to calculate a claim if they pass the causation test.  After passing causation, if your calculation of change in variable profit shows a loss, the settlement calls for BP to pay you.   If you are not certain if your business qualifies for the settlement, I urge you to call today.  We will review your records with you and help you determine if your business qualifies for payment within the guidelines of the settlement.

We can help You for just 15% of what you Recover

Please keep in mind that not every business will meet the “Causation” requirements.  It is also important to note that the “Causation” test goes beyond the numbers and where you might have failed the initial “V”-test, the settlement calls for the claimant (you) to examine other factors that might contribute to establishing your claim.  We thank you for taking the time to visit BP Business Claims and we look forward to assisting you in your recovery of losses.

We have over 300 CPA`s and the Best Team of Claims Adjusters in the country, We understand the process and have had great success even under the GCCF.

OUR CHIEF CLAIMS ADJUSTER WAS A LARGE LOSS ADJUSTER UNDER BP, WHEN BP FIRST STARTED PAYING OUT EMERGENCY CLAIMS, THEN HE LEFT TO CREATE HIS OWN FIRM, THAT IS NOW PART OF ONE OF THE LARGEST ACCOUNTING FIRMS IN THE COUNTRY.

We know how to get claims through the process.