Understanding Your Rights in Filing a BP Oil Spill Claim

In December 2012, British Petroleum was responsible for a catastrophic oil spill in the Gulf of Mexico which adversely affected lives of people and businesses in that area. According to the ruling of a federal judge who heard the cases, any person or business in that region whose business has suffered due to this accident can claim for damages from British Petroleum. But the settlement process has setup a few rules and conditions to determine people eligible for compensation and also decide how much money will be paid for specific claims.

Criteria for determining eligibility – People generally believe that only claimants from industries like tourism, fishery or seafood factory in the region are eligible for compensation related to oil spills. According to the BP Oil Settlement related to oil spill in the Gulf of Mexico, following business in the area are not eligible for compensation like, financial institutions, gaming or casino firms, investment funds, government contractors, companies selling BP products like fuel and ancillary products and also real estate developers.

This is to ensure that claims of people and business whose lives have been actually affected by this oil spill get compensated adequately and time is not wasted on hearing useless litigations. But if a person/s are running a business in that area and can prove in the court that their profitability has been adversely affected due to the oil spill then they can contact a BP oil claims attorney to make a claim. But the company seeking the compensation has to show that it had been continuously earning profits and immediately after the spill its profits deteriorated by 15% during the months following the incident.

Settlement zone – The court designated Gulf of Mexico Settlement for spill by BP Oil has divided the entire area affected by the oil spill into separate zones depending on extent of damage and has given them different color codes. Any individual or business keen on making a claim for compensation under this settlement plan can check their address on the zone map to see which zone they are in and then file a claim for compensation through a BP oil claims attorney.

Businesses and homes which are closest to the beach were the most affected and have been placed in Zone A while businesses and homes further away inland which have suffered economic loss have been placed in Zone B and C. These homeowners and business have to prove their claims and show actual loss related to oil spill before being eligible for any sort of settlement.

Hopefully, your business has not suffered economic losses as a result of the BP Oil Spill, but in the event that your business has suffered a loss related to this tragedy, please give Hoag Law Firm a call or complete your online Free Case Evaluation. A free consultation can help you understand your rights. With honest advice and an experienced BP oil claims attorney at your side, you can recover the largest possible settlement and get back to living your life.

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