Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

Distance not a factor in BP claims

By Ben Rooney, staff reporter


NEW YORK (CNNMoney.com) -- The official in charge of managing claims related to the BP oil spill said Monday that distance from the disaster site will not prevent legitimate claims from being processed.

Kenneth Feinberg, who has authority over the $20 billion fund that BP has pledged to compensate individuals and businesses hurt by the spill, said the decision came after elected officials in Florida, including Gov. Charlie Christ, expressed concerns about a "geographic proximity" test.

"After listening to these concerns, I have concluded that a geographic test to determine eligibility regarding economic harm due to the oil spill is unwarranted," Feinberg said in a statement.

He added that each claim is reviewed on a "case-by-case basis" and that those filing claims must still prove that the damages they suffered occurred as a result of the spill. However, he said, "physical proximity from the spill will not, in and of itself, bar the processing of legitimate claims."

The Gulf Coast Claims Facility, as the fund is known, has paid out nearly $1 billion to 50,000 victims throughout the Gulf of Mexico, according to Feinberg. To top of page

Search for Jobs

Index Last Change % Change
Dow 18,432.24 -24.11 -0.13%
Nasdaq 5,162.13 7.15 0.14%
S&P 500 2,173.60 3.54 0.16%
Treasuries 1.46 -0.05 -3.51%
Data as of 2:37am ET
Company Price Change % Change
KeyCorp 11.70 0.05 0.43%
Bank of America Corp... 14.49 -0.19 -1.29%
Ford Motor Co 12.66 -0.05 -0.39%
General Electric Co 31.14 -0.11 -0.35%
Chesapeake Energy Co... 5.42 0.23 4.43%
Data as of Jul 29
Sponsors

Sections

For the first time ever, Amazon and Facebook are more valuable than Berkshire Hathaway, the storied company run by legendary investor Warren Buffett. More

Venezuela's government issues a decree recently that makes it possible to force workers to work in the country's fields amid food shortages. More

Sheryl Sandberg says she supports Hillary Clinton for president, because she would help close the gender gap, and because she's 'the most qualified candidate.' More

It's about to get harder for some luxury all-cash home buyers to hide their identity from the U.S. government. More