Oil claims: 6 months of payments per each request

The man in charge of providing compensation for victims of the Gulf oil spill says he's ready to give those eligible a full six months' worth of emergency payments on aa single request.

The man in charge of providing compensation for victims of the Gulf oil spill says he's ready to give those eligible a full six months' worth of emergency payments on a single request.

HT Image

Ken Feinberg, who's administering the $20 billion fund established by BP, says that speeding up the claims process is part of the effort to help people feel an added degree of financial certainty.

Feinberg says that a payment based on six months of losses rather than month-by-month requests will cut back on the number of claims his office expects to receive.

Feinberg appeared Sunday on CNN's "State of the Union."