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In Mr. Hayward's defense, he is the CEO of a large corporation, not a tool pusher pulling a daylight tour on the rig floor and neither is President Obama. Nor are they mud engineers, nor does either of them hold a captain's license. Mr. Hayward is certainly more capable than Harvard's Barack Obama. Subjecting Mr. Hayward to probing questions on national television is embarrassing.

Nobody drawing a government pay check has the faintest idea how to staunch the flow of oil. Best to be play nice with Mr. Hayward and his minions. Working in the oil patch is analogous to being a Catastrophe Adjuster, those people are well paid and independent as hell! Embarrass them on national television and they are liable to take their knowledge and equipment and go play with the grandkids. They won't much of it from a community organizer from Chicago who puts his hand in his crotch during the National Anthem and won't put a wreath on the Tomb of the Unknown Soldier.

Hayward and BP likely know their company is history. Willingly turning over 1/3 of their available liquid assets to Obama is not a good sign. Chapter 11 Bankruptcy is a very likely outcome especially with hurricane seaon on the horizon. If that happens the British economy will collapse as so many Brits are invested in BP The Fed's will face the same issues the Worley crew faces The claims of Gulf businesses are not supported with solid paper facts. I have seen this same claim from Katrina They claim big losses when in reality most are losing money. BI is predicated on Net Profit not loss. These claims will go haywire with a hurricane. Oil spread over a large area of any major southern town or territory wiil be a nightmare Will carriers pay oil clean up due to wind? Will they limit hazmat oil clean up or flat deny the damages from oil due to pollution? Imagine working claims inside a hazmat suit in Mobile come August 2010

this will be taken form worleys it seems

Posted By Olegred on 18 Jun 2010 10:37 PM
this will be taken form worleys it seems

What difference is the blame game at this point. BP states that they will pay the cost of recovery and Obama states that he is satisfied that they are capable of paying for the recovery.

http://www.google.com/hostednews/ap...AD9GF3GN00


fyi breaking news

Wow, I can only imagine what a hot spot BP is in right now. They are being pressured by Feds, so that President could save his political face on one side and on the other side there are thousands of claimants, some of who have experience some economic harm. (oh, god, are you suggesting that SOME people would want to cash in on this opportunity and get an easy check from BP????? oh, my!) . I saw some news where a bunch of whining people were telling the news crew how their gas station was making millions last year and this year it just dropped to 10k. BP, of course, is to blame for what happened, but what is really necessary is to stop this political circus and create an independent, transparent and objective claim handling process. Man, I am aching to get some BI experience from this.

Posted By m3kmfb on 25 Jun 2010 11:18 AM

Sorry for the cross post, but heres some thoughts.

The oils spill claims being processed by ESIS/ACE are under BP’s OPA 90 liability, which is self insured and RE in the overseas market.  There is a limitation of liability and at that point all claims will go to the Oil Spill Liability Trust Fund at the National Pollution Fund Center.  BP, as all other oil transporters and producers, paid into it and I believe the yearly limit is $1 billion per incident.  BP/ESIS may stay adjusting but the process is by federal statute, similar to FEMA claims. 

 

Having adjusted environmental claims for a US based enviro insurance $25 billion dollar syndicate, with my average claim authority of $10 million for pollution claims, the present situation with adjusters seems a little strange.  Only about 10% of the specialized adjusters I know have been deployed, and another 10% are working in project/response management for the SMT or contractors.

 

Every specialized adjusting professional should be working on this spill, however it seems they don’t want qualified adjusters that can think for themselves, their looking mostly for claims “administrators”.

Marine claims are unique, marine pollution claims are very unique.  If you never adjusted a claim under a COFR, NRDA, or OSLTF, simply covering lost wages for fisherman are dull.  Property damage is not being paid until the BP contractors attempt to mitigate the damage (oily boats, dirty beaches) and then they will do it under the Natural Resource Damage Assessment.  There are specialized public adjusters (Adjusters International) who will work these large claims.

 

Some other thoughts, any company that transports or produces oil must comply with the financial responsibility laws under OPA 90 and have a certificate of financial reasonability with an approved organization.  The money is guaranteed.  They also pay a tax/fee to the OSLTF covers anything over their statutory limit up to the per incident amount of $1 billion.  Its not like the company can go bankrupt leaving claims unpaid, the political people would like you to think that, but its not true.

 

Remember as Ray said, most oil spill claims will not go to litigation, once the limit of liability is reached (the legal limit) unless they can find criminal negligence, the OSLTF will pay these claims and there is no judge (I am a former State and Federal On Scene Coordinator who managed the government’s response to over $100 million in HAZMATS and Oil Spills) who will not allow the process to work, be internally adjudicated, and affirm the decision. 

 

Finally, the cost of insuring environmental liability is always passed onto the consumer.  That said, the fraud that may be committed in this will hurt all of us.  Fair and reasonable settlements.  I saw someone complaining they could not go out and fish and they are losing their livelihoods.  They have been on the vessel of opportunity program since the start and even while sitting earning over $3k per day sitting at the dock, they want more money.

 

I am heading to Fla, MS, LA, and TX next week for meetings and will let you know what I see first hand.

 

Love to hear anything else people have.

 

 

Mark B, JD, CES, CFEI, LPI, DplM Surveying,
Lloyds Accredited Environmental Surveyor

E I E I o

I just read this morning that Ken "The claims czar" is trying to limit claims to 3 monthly payments and a 4th and final payment after the oil is stoped. The local AG's and Gov's on the gulf coast are in meetings with Eric Holder who is getting a earfull. Further Ken is wanting everyone to give up their right to sue in exchange for these payments.

Ken should get his formal appointment as Special Master August 1st. I see a huge pile up in turn 4 coming.

Third party claimants will be very creative with their "damages". This can be done in 4 payments IF the 4th installment is the last and good $ management  on the first three installments does not put the "upsidedown" label on # 4. I also think #3 may be skipped in some cases.