I contacted the Bristish Petroleum claims hotline today and asked them the following question: If a business retains a forensic accountant to quantify, support, and create a claim for their economic damages related to the oil spill, will the forensic accountant’s fees be reimbursed?
I think this is a reasonable question given that this is an expense that the business owner would not have incurred but for the oil spill. In typical corporate fashion, the response from the BP representative was that the business owner should file their claim and then an adjuster would decide whether or not these fees could be recovered. I asked if there was any objective basis in the adjuster’s determination and I was told “no.” The adjuster has the authority to make a subjective decision on whether or not a professional fees incurred by the business will be reimbursed.
It’s interesting that BP has said publicly that it wants legitimate and supported claims, but won’t commit to reimburse businesses for professional help until after they incur the cost.
So, how will Mr. Feinberg’s involvement change the claim practices related to this loss? I guess we’ll all find out together in the coming weeks. If you have some insights to the situation, please let me a comment below.
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