Catastrophe & Restoration

Crawford & Company has confirmed that GCG has been retained to assist Feinberg Rozen, LLP with Mr. Ken Feinberg's role as the administrator of the Gulf Coast Claims Facility.

Claims Magazine spoke with the man President Obama appointed as "pay czar" of the $20 billion BP oil spill compensation fund, Ken Feinberg. In this exclusive Q&A, he talks about the claim process and what must happen for people to get the money they need.

Fire officials expect to have control over two major wildfires burning in California by the end of this week, but neither incident should amount to catastrophe claims, an insurance association representative said.

Insured losses for the U.S. in June totaled about $200 million because of hail and flooding in the Northern Plains and tornado damage in the Midwest and Ohio Valley, Aon Benfield said.

There may still be individuals and businesses whose claims may not be paid or fully satisfied. These parties will likely then turn to their insurance policies for compensation. The FC&S staff analyzed how various lines of business could respond.

In this exclusive feature, BP's Claim Manager Darryl Willis discusses the enormous undertaking of paying oil spill losses, while Attorney Lela Hollabaugh looks at the long-term litigation aspects BP faces.

Having paid $256 million already in claims, BP will likely issue at least $60 million in advance payments in August to claimants across the Gulf Coast.

On July 26, 2010, the deadliest storm in Montana since 1923 touched down, killing two and ripping through a bridge and various buildings.