Thursday, January 20, 2011

BP (NYSE:BP) Claims Processor Kenneth Feinberg Asked to be More Responsive by Florida AG

Kenneth Feinberg, who runs the BP (NYSE:BP) claims fund, and is over the claims processing portion of it, was asked to be more responsive and clear about the process in Florida.

Florida's attorney general Pam Bondi said the responses by Feinberg and his team to businesses in Florida is at the top of her agenda.

Part of the clarity aspect probably comes in response to changes Feinberg made when complaints arose, which seems to have clouded the situation, rather than expediate it.

Bondi said, "You are going to see us get a lot more aggressive on that issue. There has to be more transparency in the claims process."

The problem for Feinberg is he just can't reach all the people and businesses to communicate, as he's been holding one meeting after another in attempts to improve the process and listen to complaints.

It seems he may have even said too much, as far as the process itself, which may cause confusion to those attempting to receive money from legitimate claims.

I'm not sure what it is Bondi feels Feinberg is being non-responsive about, as it seems he's continually in the press and meetings discussing the overall fund.

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