BP Oil Spill Claims Fund Alters Some Payment Rules

  Tuesday, February 22nd, 2011 Source: Insurance Journal

The administrator of BP’s $20 billion Gulf oil spill fund announced new rules on how final payments will be determined in the highly criticized claims process, but the central payment formula remained unchanged from a proposal released earlier this month. Kenneth Feinberg, the Washington lawyer who oversees the fund, said in a news release that he’ll begin making payments based on the rules.

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