Businesses along the Gulf Coast are being asked to document any revenue loss they may incur because of the oil spill in the Gulf of Mexico. Florida Chief Financial Officer Alex Sink said coastal businesses should prepare for making loss of earnings claims for damages incurred as a result of the Deepwater Horizon oil spill.
Most importantly, businesses should keep records of canceled reservations.
News reports suggest that many condominium owners, hotels and restaurants are already having increased cancellations, and it’s important that when these cancellations occur that you ask whether the cause is because of the oil spill. If the answer is yes, keep a record of the person’s name and contact information, and also the revenues lost as a result of the cancellation.
Also, calculate estimated losses for a six-week period and be able to provide records, sales receipts and documentation to support such a claim. A good idea would be to compare business now to a five-year average of revenues between May and June, which can offer insight as to the damages incurred.
Miss Sink said that Empty restaurants, empty rental properties, or empty stores resulting from this oil spill are the direct responsibly of BP, and that’s exactly who should pay for it.”“It is crucial that our small business owners keep meticulous records about their losses so that BP claims can be expedited.”
Affected businesses can file a claim with BP Oil via the hotline number at (800)-440-0858.
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