Special thanks to ClaimSmentor Property and Casualty Group member, Lee Norwood, for sharing these BP Claim Statistics which were updated February 29, 2012 by the Gulf Coast Claims Facility. We get so many hits on our blog from people doing internet searches for updated statistics so I thought I’d share yesterday’s report for those interested:
Updates from BP Czar Ken Feinburg from Louisiana Town Hall Meeting 8/18/10 about Gulf Coast Claims Facility/New Website for BP Claim Filing as wellAugust 19, 2010
Well it is finally out=========the BP Claims process through BP ended as of yesterday on August 18, 2010 and will reopen Monday August 23, 2010 under the Gulf Coast Claims Facility administered by Ken Feinburg at http://www.gulfcoastclaimsfacility.com As of a few minutes ago, it just has an announcement posted that it will open 8/23/2010.
This article from yesterday’s townhall meeting in Louisiana provides many more clues to how Feinburg intends to administer the settlement of these claims and is becoming a little more clear and more sensible as well from the standpoint he is now saying BP is providing them the documentation received on the claims that were reported directly to BP from April 20, 2010 date of loss through the close of BP’s own administration of the claims which ended yesterday.
The process sounds like an improvement but I cannot fathom how they possibly are going to make the first six months emergency payments within 48 hours for personal claims and 7 days for businesses as alleged. 1600 or so claims personnel divided by the 151,000 claims reported to BP that are in the process of movig to Gulf Coast Claims Facility doesn’t even sound humanly possible as anyone running a catastrophe claims operation can tell you.
We’ll keep a hopeful watchful eye as things develop and wish the Gulf Coast Claims Facility nothing but the best in restoring these claimants to some semblance of normalcy after their lives have been in ruins from this BP oil spill.
Here is the link to the the news article out of Louisiana quoting Ken Feinburg with more clues to how the claims will be administered:
BP’s claim site lists the following new information about filing claims under the new facility at www.bp.com/claims which says in part:
Update: Individual and Business Claims
- Access the GCCF website at www.GulfCoastClaimsFacility.com.
- Call the toll-free number 1(800) 916-4893 to receive a copy of the claim form by U.S. Mail (TTY: 1 (866) 682-1758).
- Visit one of the GCCF Claims Site Offices, locations of which can be found at the above web site.
For existing claimants only: The Immediate Action Claims Team will continue to operate through Sunday, August 22, and can be contacted at 1(800) 573-8249. This team will work only with those who have real emergencies.
GCCF is the only authorized organization managing business and individual claims related to the Deepwater Horizon Incident.
Effective August 23, 2010, to file a claim, you can do one of the following:
BP 8/17/10 Press Release explains transition this week to Gulf Coast Claims Facility for individuals and businesses/ See info as well on Worley adjusting firm involvement in government entity BP claimsAugust 17, 2010
The BP press release for August 17, 2010 explains how claims will transition from their BP Claims operation to Ken Feinburg’s Gulf Coast Claims Facility program.
Here is the link to their press release with all of the details:
The BP Claims Statistics page is updated through 8/17/10 and shows 151,000 claims reported and only 44,000 of them have received one payment thus far. They also show the current claim staff at 1,650 which is an increase of about 400 since I last blogged about this a few days. That is quite interesting as I personally made a call to Worley’s deployment department to see what status was on deployments and they said that deployments had slowed down and they were fully staffed right now. Considering that Ken Feinburg when in Pensacola last week said all claim will have to be reported again to the Gulf Coast Claims Facility so that is going to be quite a feat to take 151,000 claim assignments and requiring the claimants resubmit all paper work to the Gulf Coast Claims Facility.
Here is also a link to a good Bloomberg article published 8/16/10 quoting Feinburg on the economic losses that are not directly on the coast:
It is interesting to read his comment that hotels more than 50 miles from the coast are unlikely to recover economic losses. Just as one example, immediately it came to mind to me that if you exit off of interstate 10 to Panama City you automatically see signs that it is 51 miles to the beach………………need I say more?
I do believe we have a long road ahead of us before we hear the last of these claims.
I’ll update the blog immediately when Feinburg releases the information this week as this BP press release says he will.
I’ll leave you now with a link to a video of Feinburg in Pensacola, FL at a townhall meeting explaining the GCCF transition by WEAR TV 3 in Pensacola, FL:
Ken Feinburg answers many BP Oil Spill questions in Pensacola, FL this week on the new Gulf Coast Claims Facility effective 8/23/2010/ BP Claim Stats through 8/11/10August 13, 2010
The Pensacola News Journal is running a series of BP Oil Spill articles this week based on meetings held with locals this week on the new Gulf Coast Claims Facility- the name assigned to the 20B BP fund to pay damage claims.
First we have this article published 8/11/2010 about Feinburg’s meeting with 300 people and the University of West FL stating the fund will take over effective August 23, 2010:
The interesting things picked up in this article is 1) confirmation that Feinburg still intends to issue settlement funds rather than advance funds that have been issued under the BP claims process for up to 6 months loss in exchange for a release 2) people/businesses who have already filed claims will need to update their claim information through the facility 3) they will accept emergency claims for loss up to Thanksgiving then remain open 3 years handling final/full settlements.
I was very surprised to read in this next article that even if you filed a claim through BP, you’ll have to file a new claim with the new facility:
This begs the question if the advances and payments previously issued through the BP/ESIS process will in fact be deducted from the facility payments by Feinburg’s group.
For many other articles on the oil spill through the Pensacola News Journal, you can view them here:
Other news sources updating comments from Feinburg and others on what will and will not be paid include:
BP may cut off tourism/restaurant businesses with indirect losses by Naples news:
From blog Alabama we have news updates on the National Association of Realtors meeting with Feinburg in Washington to discuss loss of realtor commissions indicating Feinburg is going to consider his position on these losses:
Also, Feinburg is quoted as stating the new claim rules won’t be posted until 8/23/2010 to allow adjusters to be trained and to test the report filing systems:
This article also indicates 39,000 BP claims are dangling awaiting Feinburg’s program to determine whether or not payments will be made on the restaurant and tourism claims for those not located near the oil spill. Note the interesting comments from MS AG Jim Hood:
BP’s site updates stats through 8/7/2010 with 145,000 claims received, 103,900 claim payments made, and 319 Million thus far paid out.
If the article linked to above from the Pensacola News Journal is right- 145,000 claims is alot of new claim reports to be made through the facility if it is true each claimant will have to file a new claim through Feinburg’s Gulf Coast Claims Facility.
The BP Stats excel sheet on their site shows 1,247 adjusters in the 36 claims offices
Here is a copy of their spreadsheet updated through 8/11/2010:
You can find this updated daily on BP’s site on the Claims Statistics tab at www.bp.com/claims . Here is also a direct link to the claims statistics worksheets or you can click on the download link right below the summary of key statistics on the statistics page here: