Gulf Coast Oil Disaster Fund Claims Now Total $1.2 Billion

 Thursday, October 14, 2010

 Insurance Journal

The Gulf Coast Claims Facility, created to compensate people and businesses for damages related to BP Plc’s Gulf of Mexico oil spill, has paid $1.2 billion in claims since the organization took over the process from the oil company on Aug. 23. BP paid $400 million in claims before facility head Kenneth Feinberg began administering the $20 billion fund set up at the insistence of President Barack Obama.
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