Help Preparing and Filing a
Restaurant or Other Business
Claim for Lost Income
After the BP Oil Spill

Restaurants, whether operating as sole owners, partnerships, LLC's or corporations, may file interim claims and final claims for damages with the Gulf Coast Claims Facility ["GCCF"], established after the BP Oil Spill.

Filing and settling interim claims and final claims with the GCCF should be undertaken with a diligent analysis and review of the restaurant's specific operations and books. Most restaurants' income after costs-of-goods, and their net income, are cyclical over weekly and annual periods. Demonstrating and projecting sales but-for the BP spill, and income losses and damages due to the BP spill, should be undertaken with the assistance of both legal counsel, and competent insurance loss professionals.

Though restaurants generally have common structures and operations, each restaurant, indeed every location in a multi-location operation, will have unique elements that distinguish it from the competition. While there are common tools for projecting income and analyzing losses, each review is unique, and should depend on the specifics of the operation. Choose wisely when you seek help on how to file a claim for lost income.

As with any fire, flood or other loss event, "how to" is founded on preparation and the advice you get. Here are some initial steps:

• Take steps to resolve claims related to property damage -- some general pointers are here
• Assemble financial data for an extended period before the loss, in aid of estimating the loss of business income after the loss.
• Mitigate damages
• Consider some steps common to all business claims
• Consult with a competent loss professional, and seek legal counsel