BP Oil Spill Claims Fund Alters Some Payment Rules

Tuesday, February 22nd, 2011 Catastrophe Liability

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.

---

http://www.insurancejournal.com/news/national/2011/02/22/187426.htm

---