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CFO Sink Statement on $20 Billion BP Oil Disaster Claims Fund

6/16/2010

FOR IMMEDIATE RELEASE: June 16, 2010
CONTACT: Kevin Cate, 850-413-2842


CFO SINK STATEMENT ON $20 BILLION BP OIL DISASTER CLAIMS FUND


TALLAHASSEE– Florida CFO Alex Sink offered the following statement after President Barack Obama announced that BP has agreed to set aside $20 billion to pay claims for damages resulting from the oil disaster and that an independent administrator will take over the oil claims process.


“After weeks of calling for a change in the claims process, this announcement couldn’t come soon enough for me,” said CFO Alex Sink. “Our small business owners need cash now, and I will be watching like a hawk for an increase in the speed at which claims are paid. I will continue to fight for our small business owners, who shouldn’t have had to go through BP to have their claims paid.”


On May 11, CFO Sink urged BP to clarify the claims process for impacted businesses. Unsatisfied with BP’s claims process and responsiveness, on May 24, CFO Sink asked President Obama for the Federal government to oversee and manage the claims process. Yesterday, CFO Sink personally pressed President Obama to get BP out of the claims process, get cash into the hands of small business owners, and just send BP the bill.


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As a statewide elected officer of the Florida Cabinet, CFO Alex Sink oversees the Department of Financial Services.  A successful business leader with nearly three decades of experience in the private sector, Sink is serving her first term as Florida's CFO.  CFO Sink's priorities include using her business experience to cut wasteful spending, holding government accountable to Florida’s taxpayers, and cracking down on financial and insurance fraud.