BP Spill Claims and Policy No. 495

By on 8-31-2014 in Oil Spill Claims

After the oil spill disaster in 2012, British Petroleum allocated about $9 billion as compensation for businesses, organizations, and general public who have been affected by the oil spill. Although payments have been given to many claimants, recently BP has filed an appeal to lower the amount of disputed payments, citing incorrect settlement agreements. BP has also refused to pay people whose claims they believe to be fictitious or false.

BP stated that many claimants do not qualify for compensation because they were not directly affected or damaged by the oil spill. Because of this argument, many claims have been denied by BP, causing hardships and financial strains to those who need them. However, Williams Kherkher points out on its website that you should not give up and file an appeal if your claim was denied. Talk with your lawyer regarding filing for an appeal after your initial claim was denied. This is easier than filing another claim.

There is presently a new policy being implemented to see the validity of your claims, called Policy No. 495 that would match and smooth out your financial statements to ensure that you do not have overstated your losses. Because of this change, your initial compensation estimate could change, and would require you longer time to process and receive the claim. One of major problems that you may encounter when you have filed an appeal would be the lack of updates regarding the status of the claim, whether from their lawyer or the claims office. Although it is understandable that this process can take time to pay out, it is still important to know how things are going.

The newly imposed policy by BP may make claims and appeals harder, which is why it is important to have a lawyer help you through the whole legal process. It can make the appeal process even longer, therefore to ensure that all things are covered and taken care of, having a lawyer would be more beneficial.