Do You Qualify to File a Claim to BP?
The Deepwater Horizon oil rig explosion, which led to the largest oil spill in history, caused a major depression throughout the environment and economy of the states bordering the Gulf of Mexico. In response to the damage BP caused in this tragic event, the Deepwater Horizon Court Supervised Settlement was created to help compensate individuals and businesses whose income was directly affected. The oil spill was all over the news in 2010 and reporters projected that oil would be covering beaches along all of the Gulf States. Not only were locals who made their livelihood on the water out of work, but also tourists from other states and countries did not want to visit beaches covered by oil and tar.
Many industries were affected directly and indirectly by the spill. For this reason, the settlement contains strict guidelines on exactly what constitutes filing a claim.
Parameters of Eligibility
If your business address is located within one of the designated “affected zones,” in most cases you are eligible to file a claim. However, there are certain business entities that are excluded from filing to the settlement, such as Financial Institutions and Insurance and Gaming Entities.
After determining your business is in fact located within a zone, and that you did not work within an excluded profession, it will be time to take a look at how much of a financial loss you took in conjunction with the spill. To be eligible to receive compensation, businesses outside of Zone A must show a certain percentage of loss in 2010 followed by a certain percentage of incline in revenue in 2011.
Do you need help determining your Eligibility?
With some very basic information and financial figures, it takes us only minutes to conclude if you do or do not qualify to receive a settlement from BP. With the further documentation required by the settlement we can give a rough calculation on how much compensation you may be eligible for. We are here to help and can answer any questions you may have regarding the settlement and the claims process. If you’d like to determine your eligibility, call us today at 1-800-BP-CLAIM.