BP Claims

Understanding What it is to have a BP Claims Expert on your side

This is a note from one of our Team Members

The claims process is an ever – evolving process.  Things that were true three or four months ago do not necessarily apply to claims being submitted today.  For example, if a business submitted a claim in September of 2010 through the Emergency process and received 200k, now they file an Interim claim and expect the same kind of results it will most likely not happen.  The process has become more forensic and each claim requires more detailed analysis.  A major part of that process is understanding the Growth Trend and how to calculate that trend.  There are several different methods used to get to an accurate growth trend.  Fortunately for us and our clients, we understand those various methods and we have the ability to explain those methods to the GCCF.  Beyond the growth trend you get into the LOI percentage.  This is one of the most elusive figures in this process.  We have the ability to accurately calculate and explain this percentage to the GCCF and our clients.  We have reviewed many claims and have been successful in assisting our clients recover more of their losses because of our understanding of these two aspects of the claims.

There are other issues with claims that have proven too difficult for many to overcome.  One of these issues is the Trending Test that so many businesses fail.  We have been able to overcome the failed trend test in several claims.  Keep in mind that the trend test is a valid test, but there are different ways to perform that test that can affect whether or not a claim gets paid. While I could spend all day telling everyone what a great job that we do for I clients,  I must end this letter and begin helping some of our clients.  I would like to leave you with one though before I close. Think of your BP claim in this manner.  If your car breaks down, where would you look to find someone to repair that car?  You would not take that care to the person that handles your financial needs, you would seek an automobile mechanic.  The BP claims process is best handled by BP Claim Experts.  We have been involved with every phase of this process and have been proven to be BP Claim Experts.  Our firm has also been approved by the GCCF as a source for accounting.

General Overview for Business Owners

The BP Claims Methodology generally leads a business owner to call their accountant  to figure it out for them. The GCCF`s methodology is completely tilted in BP`s favor, it is difficult to understand for the layman, and requires extensive documentation, and you have to go through all of this, before you even find out if your business qualifies to receive any BP Claims money.

3 Key Factors to Consider if you have a BP Claim

After the BP Oil Spill did your Business incur the following:

• Business interruption
• Loss of income
• Declining business values

If the answer is yes you may have a BP Business Claim or possibly Multiple BP Claims.

How much are your BP Claims worth

Traditionally BP will tell you that they will compensate you for 1-2 years of lost profit, they don`t take into consideration the lost value of your Business. Attorneys on the other hand will ask the GCCF for 3-5 years of lost profits and employ the use of forensic accounting for more complex BP Claims. Forensic Accounting can give a more detailed and accurate view of your companies overall loss.

Attorneys and Claims Adjusters specializing in the BP Claims process have different areas of specialty, the Attorneys and Adjusters we have connected with have vast experience with BP and the the BP Claims process. They will let you know if you have an oil spill claim, and layout a game plan of how to get your BP Claims paid. The starting rate is 15% of whatever they recover for you, but can be adjusted for larger BP Claims.