I know everybody are waiting for news on the settlement and what it means to each individual and business claim and I will try and provide news as soon as I get it.
Water Front Residents To Be Compensated For The Oil Spill
The latest news to slip out about the settlement is the ability for water front residents in the affected area to file a claim. I guess panhandle of Florida to Louisiana wetlands region are eligible to receive compensation for loss of use and enjoyment of their property.
To be a resident in 2010 you would have to own a resident on the water or have a long term lease on the property on the water. So a week in Florida would not be enough to file a claim but a 6 month lease probably would.
This section right there is probably over 100,000 new claims.
Now what if you had a house but you where renting it out by the week, I am not sure if you could file a claim on the basis that you lost use and enjoyment of you property as you where renting it out.
Now if you where renting it out and lost rental income then yes you have a great claim and you should file.
This BP claim was not available though the GCCF, as they did not recognize this as a claim, but the new BP attorney settlement will pay these claims out when it gets up and running.
The new attorney settlement recognizes that residents in the affected region were unable to fully enjoy their homes in the aftermath of the oil spill.
Now the next question is of course what should a claim like this be compensated with, and I would have to say that I have no idea what the compensation would be but it would be something.
No Proof Needed If You Can Prove A Loss In 2010
Again some more great news coming from the attorney settlement.
“It is presumed that losses suffered by businesses and individuals in close proximity to the Gulf Coast, or in the seafood industry, were caused by the oil spill without further proof”
This means for most claims along the gulf coast and that would be from Texas to Key West. Individuals and business just have to prove their loss and not that it was caused by the BP oil spill
This should mean that people that have had a difficult time with causation of their losses in respect to the BP oil spill would now just have to prove they had a loss as the cause of the loss are presumed to be the oil spill. Wow this is really a great new development and it should make it much easier for many to get their claims paid.
Comparison year does not have to be 2009
For some people that I have talked to had something going on in 2009 or that year was a bad representation of their actual losses. In the new attorney settlement, if you can prove losses between any year from 2007-2009 compared to 2010 you will be able to file a claim.
This was again a thing that GCCF made sure of that the comparison year was 2009 for what ever reason. Now people can select what year they want to compare to 2010 for proving their losses.
The settlement program would allow a claimant to compare 2010 revenues against a broader time period, looking at revenues between 2007 and 2009
This should be huge for many business as 2009 maybe was not the best year and maybe 2007 was. This could literally mean hundreds of thousand of dollars on many business claims. Great News
Medical Claims Will Be Compensated By The Settlement
This is another big one, I don’t know how many oil clean up workers I have talked to and I could not help at the time because of the stupid policy of the GCCF, this will change now. So here is the deal.
The Medical settlement will potentially benefit hundreds of thousands of Gulf Coast residents and Clean-Up Workers who suffered acute or chronic illnesses from exposure to oil and chemical dispersant’s in the weeks and months after the oil spill.
Clean-Up Workers can submit a claim with a Declaration under penalty of perjury describing the conditions or symptoms after exposure even if they did not seek medical treatment at the time of exposure. I guess the Attorney settlement will then give clean-up workers a monitary compensation based on what happened to each individual worker. Again more to come on this.
Residents and workers who suffer chronic symptoms or conditions from exposure will be required to submit medical records from the time of exposure and for ongoing medical care.
Coastal residents and Clean-Up Workers who experience future illness retain the right to sue BP without proof of liability for the spill and exposure.
VOO Compensation Part Of The Attorney Settlement
This is a big one also for lots of my friends in the VOO fleet, that have been waiting since November 2011 for word on the settlement that should have happened for them back then. Well the VOO claims are part of the settlement together with claims in these groups.
- Businesses and individuals that lost profits
- Sustained damage to coastal property wetlands and personal property
- Sustained real property sales losses
- Lost subsistence use
- Claims for failure to pay under BP’s Vessels of Opportunity Program.
The VOO claims for failure to pay will be compensated by the attorney settlement fund base on the situation of the VOO captains individual situation and contract.