Florida Oil Spill Claims

Florida Oil Spill Business Interruption Claims

Wed, 28 Jul 2010 16:17:11 +0000

As the crisis from the BP oil spill grows, small businesses along the Gulf Coast are losing millions of dollars in revenue. Fisherman, hotels, restaurants and shops have been affected throughout the region. Meanwhile, BP has established a $20 billion claims fund in order to compensate those who have been affected. If you have suffered a loss of business as a result of the BP oil spill, then you may be eligible for compensation. To recover damages you may need to file a business interruption claim.

What is a business interruption claim?

A business interruption claim will cover losses sustained to the business property as a result of the occurrence of an insured event. It may also cover indirect losses, which are sustained as a result of suspended operations. This coverage is meant to compensate business owners as though no interruption has occurred. It will cover business income, or net income before business taxes, that is shown to have been lost.

Recovering a Loss of Earnings

To recover a loss of earnings as a result of the BP oil spill, you must show that gross earnings, or business income, would have been realized during the period of interruption. A business that is running at a loss may also submit a business interruption claim because it may still have been impacted in the form of continuing expenses. A business that is not in operation, but is under construction, may file a claim from the date that operations should have begun.

If you need to recover for a loss of earnings as a result of the BP oil spill, a Florida BP oil spill lawyer can help you file a business interruption claim.

What specifically does a business interruption claim cover?

A business interruption claim may recover for losses that are a result of, but not limited to:

Contingent Business Interruption – This refers to losses suffered from damaged property that:

Prevents a critical supplier from getting goods or services to you; and/or
Prevents customers from accepting your goods or services.

Services Interruption – This refers to losses suffered because of the interruption of any utilities or services, including electrical equipment and systems, fuel, water, gas, sewage, communications, heating, refrigeration, and utility plants.

Interruption by Civil or Military Authority – This refers to losses suffered as the result of the restriction of access to your property by order or action of a civil or military authority. For instance, if the U.S. Coast Guard shuts down beaches that your business generally depends on, then you may recover damages in a business interruption claim.

Interruption of Ingress/Egress – This refers to losses suffered when damages impair the entry to or exit from your property.

If any of these circumstances have affected your business, then you may be able to recover for damages in a business interruption claim. To find out if your business losses are covered, you can get the expert advice of a Florida BP oil spill lawyer.

How can a Florida BP oil spill lawyer help?

While BP has established a $20 billion claims fund to compensate victims of the spill, and vowed to expedite their payments, there are still going to be a lot of complications to the damage claims process. If you want to recover money for damages that were experienced by your Florida business, you will have to:

Prove that your business has been affected by the BP oil spill;
Show proof of previous earnings or losses, by submitting documents and statements; and
Prove what revenue or expenses were lost as a result of the BP oil spill.

A Florida BP oil spill lawyer can help you submit your claim, and negotiate the compensation that your Florida business deserves. If you are denied compensation, a Florida BP oil spill lawyer can pursue your damages in an insurance claims lawsuit.

The BP oil spill attorneys at Falk & Falk Law Firm know how important it is to you and your family to get the settlement you need in order to move on with your lives. Contact us today – 1-877-663-5110.

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Does A Business Interruption Claim Cover My BP Oil Spill Damages?

Wed, 28 Jul 2010 16:07:50 +0000

If your Florida business has been negatively affected by the BP oil spill, then you may be able to recover for damages in a business interruption claim. A business interruption claim covers the loss of earnings that your business has suffered, for reasons such as:

The interruption of utilities or services;
The inability of customers or vendors to reach you; and/or
Because a supplier or customer has suffered significant damages.

A business interruption claim also covers losses suffered as a result of the restriction of access to your property or place of business. For instance, if the U.S. Coast Guard has shut down beaches because of the BP oil spill, and those beaches directly affect the revenue to your restaurant or hotel, then you may be eligible for compensation in a business interruption claim.

BP has established a $20 billion insurance claims fund for victims of the oil spill. They plan to expedite payments, and compensate anyone who files a legitimate claim. To file a claim, you can get the professional help of a Florida BP oil spill lawyer. A lawyer can help you to properly submit your claim, and negotiate your compensation.

If your business has suffered damages as a result of the BP oil spill, you may be eligible for compensation in a business interruption claim. To learn more about BP oil spill business interruption claims visit our article library.

The BP oil spill attorneys at Falk & Falk Law Firm know how important it is to you and your business to get the settlement you need. Contact us today – 1-877-663-5110.

BP CEO Tony Hayward answered multiple questions with, I didn’t know anything about that.

Tue, 27 Jul 2010 23:05:16 +0000

BP CEO Tony Hayward answered multiple questions in his testimony before a US Senate investigative panel on the BP oils spill disaster by stating he didn’t know anything about that.

Hayward did admit that the drilling mud used in the top kill attempt in May was not toxic. Turns out that might not be true. A BP official recently confirmed that the top kill drilling mud contained lye and ethylene glycol – both of which are in fact toxic. Hayward may possibly have committed perjury before the Senate inquiry committee.

Florida residents have claimed taht BP created a media blackout to hide issues of public safety. BP has revealed a $16.9 million dollar second quarter loss to their shareholders a lot of that loss attributable to Hayward’s hand in the Gulf oil spill disaster.

Photo by: World Economic Forum

Perception Of Florida Oil Spill Damage Hurting Businesses

Tue, 27 Jul 2010 22:52:09 +0000

The BP oil spill may cause loses in excess of $22.7 billion in revenue over the next three years, according to the head of one tourism association.

The president and chief executive officer of the U.S. Travel Association provided the estimate in testimony for a hearing. The figure comes from Oxford Economics, a U.K. consulting firm, and was modeled on 25 earlier disasters, including oil spills, hurricanes and terrorist attacks.

This prediction goes beyond the $20 billion BP has placed in escrow to help pay oil spill damage victims.

BP has stated its intentions to pay all “legitimate” oil spill damage claims, and that it will increase escrow funds as needed to pay out such claims.

Beaches in the state of Florida are currently generally without oil spill damage.

However, the state suffers more from a perception of a problem, that Florida beaches have suffered damage.

The chief operating officer for a Florida resort company testified that call volume from potential visitors was down by 25% since before the BP oil spill started.

Photo by: Sky Truth

Oil Spill Attorneys Say More Testing Needed

Tue, 27 Jul 2010 22:41:19 +0000

Attorney Stuart H. Smith, who is representing the United Commercial Fishermen of Louisiana, as well as environmental organizations and public entities against BP, et al, recently stated that he thinks BP has failed to properly collect and samples, and has worked to prevent outside scientists from collecting appropriate samples.

The samples are key to what is called air dispersion modeling and could be very important in fighting moves made by BP to claim that tarballs or oil contamination came from somewhere other than the Macondo well.

Since BP is strictly liable as the for claims under the Oil Protection Act, their defense is likely to be grounded on specific causation. If claimants are able to access information from proper environmental testing and oil finger-print analysis, they may be at an unfair disadvantage in trying to prove their oil spill damage claims.

Photo By: MA EPA