... Florida, Louisiana vs. BP.
Reportedly, BP is settling more Business Income Interruption Claims from Florida than Damage Claims resulting from slick oil in Louisiana following the Macondo Well-Deepwater Horizon Gulf Oil Disaster:
This year's giant oil spill in the Gulf of Mexico has smeared Louisiana with the most crude but has been hardest on Florida's economy in terms of lost wages and income.
The office responsible for doling out $20 billion in compensation from British oil company BP PLC has already sent thousands of checks to Florida worth a combined $1 billion.
Louisiana's take from the Gulf Coast Claims Facility: $911 million.
The settlements reached by BP and certain Claimants leave open several questions which are unanswered by the current newspaper reports.
The reports do not include any news informing whether the Claimants have been compensated in full for the Damages they incurred, in which case BP might be able and willing to assert Subrogation Claims against the Claimants' Insurance Companies, if any, which provide the Claimants with Business Interruption Coverage.
The reports are also silent on whether the Claimants, not having been fully compensated for the harm they have incurred as a result of the Gulf Oil Disaster, have made Insurance Claims upon their own Business Income Insurance Companies, if any.
Time will tell.
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