Gulf Coast Oil Disaster Fund Claims Now Total $1.2 Billion
Thursday, October 14th, 2010 Catastrophe LiabilityThe 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.
External References & Further Reading
http://www.insurancejournal.com/news/national/2010/10/13/113991.htm
