BP says oil spill claims formula is too generous

Friday, February 18th, 2011 Catastrophe Liability Property

The administrator of the $20-billion fund for Gulf of Mexico oil spill victims, under fire for red tape and delays, has been told by BP that his formula for determining final payments is too generous. The BP document, posted on the public comment section of the Gulf Coast Claims Facility’s website, said administrator Kenneth R. Feinberg’s methodology artificially inflates future expected losses for victims of the spill.

---

http://www.latimes.com/news/nationworld/nation/la-na-0218-oil-spill-20110218,0,5926935.story?track=rss&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed: latimes/news/nationworld/nation (L.A. Times - National News29

---