Payment claims hit BP faster than company can write checks
New claims against BP from the massive oil spill in the Gulf of Mexico are pouring in more than twice as fast as the British energy giant is paying them out, US officials said.
Analysis by a consulting group hired by Louisiana to track claims and BP payments amid the worst environmental disaster in US history also showed that the claims have risen in dollar amount, and that BP sped up its payouts specifically when the state pressured the company to do so.
The group, Cannon Cochran Management Services, Inc, said the total number of claims reported by BP jumped by 170 percent in June, from 30,000 to more than 85,000, and that by June 30 there were nearly 2.5 times as many new claims as there were checks issued to claimants.
It said BP added 441 new claims adjusters during the period, for a total of 951 — an increase of 87 percent, about half the percentage increase in new claims.
“The state believes that claims processing will be detrimentally impacted unless BP increases its number of claims adjusters,” Department of Children and Family Services Secretary Kristy Nichols said in a statement.
Continue rawstory.com/rs/2010/0703/payment-claims-hit-bp-faster-company-write-checks/
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