2. The explosion of the Deepwater Horizon oil
rig in 2010 affected the entire Gulf region.
53,000 barrels of oil per day
poured into the Gulf of Mexico.
4. In April 2012,
BP agreed to a $7.8 billion settlement.
The Settlement provides
relief for the entire Gulf region.
Businesses, nonprofits, and individuals
located in the following counties may be eligible:
• All counties in Alabama • 30 counties-Gulf Coast of Florida
• All parishes in Louisiana • 4 counties-Gulf Coast of Texas
• All counties in Mississippi
5. Alabama Louisiana Mississippi
All counties eligible All parishes eligible All counties eligible
Florida Texas
30 Gulf Coast counties are eligible 4 coastal counties eligible
6. Alabama Louisiana Mississippi
All counties eligible All parishes eligible All counties eligible
Florida
•30 counties eligible
Texas
•4 counties eligible
7. The Settlement
Overview
• Generally, all businesses, nonprofits, and individuals
located within the Gulf Coast area are eligible to
participate in the claim.
• Economic damages can be claimed if you lived,
worked, or owned a business in Alabama, Louisiana,
or Mississippi.
• Certain coastal areas in Texas and Florida are
also eligible.
8. The Settlement
Economic Loss Zones
• Four geographic zones (Economic Loss Zones)
determine eligibility to file a claim.
• Zone A is automatically presumed by the courts to
have established causation.
• Zones B, C, and D can demonstrate causation
using a financial formula.
9. 5 States in the Gulf Coast Region are Eligible
Zone A is presumed by the courts to have established causation.
Zones B, C, and D must demonstrate causation using a financial formula.
10. The Settlement
Causation
• In legal terms, “causation” means liability, or the same as
saying that one is at fault and responsible for the damage.
• The BP settlement is unique in that individuals and businesses
with claims (claimants) are not required to prove that their
economic or property damage was “caused” by the oil spill.
• In the case of Zone A, the courts have presumed “causation”
based on the location of either the property or the claimant.
• For Zones B,C, and D, “causation” can be demonstrated by a
financial formula.
• Once you have established “causation,” you are eligible for a
claim.
11. The Settlement
Claim Calculation
• Once “causation” is established, the amount of economic loss is
determined by calculating variable profit lost during the oil spill
period.
• Variable profit refers to revenues less variable costs.
• Monthly variable profits are compared to a historical
•Alabama
benchmark to determine the amount of economic loss.
•Louisiana
• The settlement pays for lost variable profits and includes a
•Mississippi
growth factor and a risk transfer premium (RTP).
•Florida
• The RTP is a multiplier applied to the economic loss based on
•Texas
the zone and industry in which the business operates.
12. Almost all types of businesses,
nonprofits, and individuals qualify.
• In summary, if you lived, worked, or operated a business or
nonprofit in an Economic Loss Zone and,
• You experienced a decline in revenue or income, or even if
you didn’t experience a decline, you may qualify.
• You don’t have to have lived or worked on or near the coast.
• You don’t have to prove direct harm from the oil spill.
23. Tourism
TOURISM
RV Parks
Travel Agencies
Bars, Night Clubs and
Sports and Water Sports
Rentals
Boat Tours and Charter Boats
Marinas
Rental Properties
Resorts and Timeshares
26. If you lived/worked in the area and experienced a
financial decline, you may qualify.
And even if you didn’t experience a decline,
you may still qualify.
32. Helping businesses, nonprofits, and individuals
optimize BP Deepwater Horizon claims
Call us today 1-888-404-1395
Visit our website and download a free eBook
on the BP settlement. www.claimscomp.com
