To handle oil spill claims, BP hires specialist in “reducing payouts”

BP hires company to handle oil spill claims whose goal is “reducing payouts” for clients

Publicly, BP has said it intends to be generous in compensating those affected by the Gulf oil spill: CEO Tony Hayward has pledged to pay all “legitimate” claims resulting from the disaster, even offering to waive the $75 million cap on liability for economic damages.

But to handle claims from the spill, BP has hired a risk-management company who advertises that a main benefit of its services is “reducing our clients’ loss dollar pay-outs” — a goal Gulf advocates say is in direct contradiction to Washington and BP’s promises to fully compensate coastal residents.

ESIS Inc. — part of the Swiss-based global insurance giant the ACE Group — is a risk-management firm whose mission is to “impact our clients’ business and reduce their total cost.”

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