Politics & Government
Wed September 19, 2012
BP Agrees to Relax Requirements for Claims
BP has agreed to relax several documentation requirements regarding the submission of claims filed after the 2010 oil spill in the Gulf of Mexico.
Plaintiffs' attorney Steve Herman and Jim Roy said in a statement Tuesday that the changes will speed the processing of claims and "get the people and businesses of the Gulf paid quicker."
The attorneys say BP has agreed to waive all license requirements for business and/or individual economic loss claimants, with some exceptions. Other changes involve profit and loss statements, proof of employability and age and vessel ownership.
U.S. District Judge Carl Barbier in May preliminarily approved a proposed class-action settlement. BP estimates it will pay about $7.8 billion to resolve more than 100,000 claims by people and businesses who blame the spill for economic losses.
Copyright 2012 The Associated Press.