Deepwater Horizon Settlement Types

The Deepwater Horizon oil spill has had a lasting impact on people and wildlife throughout the Gulf. Among other things, the disaster reduced fish populations, led to lung disease in dolphins and might have caused permanent damage to the ecosystem. Fisheries and businesses that depend on tourism were hit hard by the spill, and the initial spill costs 11 workers their lives.

BP was ruled to have been “grossly negligent” in its actions leading up to the spill. The company was exposed as having had a practice of cutting corners to reduce its costs and increase its profits, exhibiting a careless attitude regarding the safety of their workers, the public, and the environment.

As a result of BP’s actions, the company was hit with the biggest fine in history. In addition to the fine, BP has to pay damages to many of the people impacted by the spill.

Medical settlements

Many individuals were physically injured by the BP oil spill. The people affected include those who lived in the area during 2010 and workers who assisted in cleaning up areas that suffered as a result of the spill. People who were physically harmed were eligible to collect compensation from the settlement that was agreed to following a class action suit against BP. In order to recover from the BP Medical Benefits Settlement, the person must have suffered from an acute medical problem, or be suffering from a chronic medical condition as a result of their exposure to the oil spilled or related chemicals.

Economic and Property Damage Settlements

In addition to physical harm, the BP oil spill caused financial and property damage to a great deal of people and businesses in the states that were impacted. The fishing industry, tourism, and real estate industries suffered great losses as a result of the oil spill. The settlement pays claims related to seafood businesses, economic losses, and damage to vessels, damages to coastal property and to property sales.

Appeals of Payouts

BP is bound by their settlement to make payouts to those individuals and businesses that qualify for compensation. However, the language in the settlement agreement allows for BP to appeal claims that are worth at least $25,000. BP has successfully overturned some rulings, meaning that the party that had been determined to qualify for a payout ended up recovering nothing after the appeal.

The settlement agreement also allows for individuals who are denied benefits, or who receive payouts lower than they believe are owed to them to file an appeal.

If you are faced with your settlement being appealed by BP, or if you feel that your claim was wrongfully denied or underpaid, you should speak with an attorney. Attorneys familiar with the BP settlement will know what is expected from you, and how to present the best argument on your behalf. If you suffered harm as a result of the Deepwater Horizon disaster, there is a lot at stake, and it is important to recover the compensation that you are entitled to.  Contact the seasoned Mississippi BP Oil Spill Attorney at Barrett Law, PLLC today at (800) 707-9577 to learn more about how the firm can help you.

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