Tuesday, June 15, 2010

BP's (NYSE:BP) Compensation Claim and Claims Process

Robert Gibbs, White House spokesman ensured that Obama is poised to take over the handling of BP's (NYSE:BP) oil spill compensation claim and claims process if needed, to ensure people get the help needed to recover from this disaster.

On the matter of the disputed damage payment, Gibbs said. " We have to get an independent claims process. I think everyone agrees we have to get BP out of the claims processes, and as I said, make sure that fisherman, hotel owners have a fast and efficient and transparent claims process so that their getting their livelihoods replaced."

"This disaster has taken their way of making a living away from them," he said. "We need to do this quickly, and we have to make sure whatever money goes into that, that in no way caps what BP is responsible for. Whatever money they owe to anybody in the Gulf, there going to have to pay regardless of the amount."

According to Gibbs, the purpose of taking the control of the claims process out of BP's hands would be to make economically distressed individuals and businesses "whole." Obama has made an outline of a comprehensive response and recovery program.

1 comment:

  1. As far as I know, BP has run their claims process for weeks quite effectively. This may be a case of glory-whoring for the president while demonizing BP further to accrue more credit with the left.