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Individual Economic Loss Module of the Oil Claim Calculator Software Hits the Market for Deepwater Horizon Oil Spill Claim Calculations

IT Strategies Group releases the final version of the Individual Economic Loss Module for the Oil Claim Calculator Software to help the professionals that prepare BP Claims for individuals and families affected by the Deepwater Horizon Oil Spill

FORT LAUDERDALE, Fla. and PANAMA CITY, Fla. and NEW ORLEANS and MOBILE, Ala. and HOUSTON and MONTGOMERY, Ala. and JACKSON, Miss., Nov. 5, 2012 /PRNewswire-iReach/ -- "Individuals and Families and the firms that represent them have had it tough due to the complexity of the processes and algorithms behind the Individual Economic Loss Claims in the 1000+ Page Settlement Agreement.  These types of claims are particularly challenging to evaluate and calculate.  Preparing these Individual BP Claims without the Oil Claim Calculator is equivalent to being in the dark with no flashlight to light your way.  The Individual Claim module in the Oil Claim Calculator is that flashlight," said Craig Sienema, VP of Operations for ITSG and the Oil Claim Calculator.

(Photo - http://photos.prnewswire.com/prnh/20121105/CG05214)  

The Oil Claim Calculator® is a time-saving, patent-pending, revolutionary software tool that allows BP Oil Spill Claims to be calculated in a consistent and accurate fashion that outputs a standardized claim report for each file in accordance with the methodologies of the new Settlement Authority.  This software is a must have for any professional services firm that helps those families and businesses affected by the Deepwater Horizon Oil Spill, such as law firms, accounting firms, and claims preparation firms. 

The Deepwater Horizon Settlement Authority is now up and running and started making payment offers to the affected more than two weeks ago. The Oil Claim Calculator software is the engine that allows law firms, accounting firms, and claims preparation firms to prepare claims and file them for the affected in record time with calculations that are razor-sharp in accuracy and consistency in record time.  The amazing time-saving features in the Individual Economic Loss Module of the software are as follows:

The amazing time-saving features in v2.0 of the Individual Economic Loss Module in the Oil Claim Calculator software are as follows:

  • Fully Compliant with the DWHS and a Huge Time Saver - The Ability to Calculate an Individual Economic Loss Claim and generate a full claim report in compliance with the methodologies and guidelines of the Deepwater Horizon Settlement Authority in less than an hour
  • Highly Accurate Individual Economic Loss Calculations – The software takes the following into consideration when calculating the Individual Economic Loss Claim Report: the amount of the claimant's payroll/earnings documentation that is available, whether EACH job is claiming or non-claiming, whether EACH job is salaried or hourly, the Economic Loss Zone of EACH job, and then provides the full gamut of calculations that generates an individual claim report in accordance with the guidelines and methodologies of the Deepwater Horizon Settlement Authority.   
  • Complete Automation of the Individual Economic Loss Algorithms and Final Claimant Calculation for EACH Job Individually - The Individual Claim module automates the Benchmark Period selection, calculates the Expected Growth in Earnings depending on the data entered in a dynamic fashion, and will calculate Lost Earnings, Risk Transfer Premium, and Final Claimant Compensation for EACH job individually.  There is nothing else like it out there.  This simply is not possible in manual spreadsheets.  It's done to perfection in the Oil Claim Calculator software.

About IT Strategies Group

ITSG is a privately held company that has over 25 years of experience in technological developments and specialized areas of computing, including the very latest in Applications & Software Design, Storage & Disaster Recovery, Virtualization & Cloud Computing, Security & Compliance, Network Infrastructure & Design, Managed Services.  IT Strategies Group is most famous for inventing the patent pending Oil Claim Calculator®.  ITSG is headquartered in Fort Lauderdale, Florida and has offices in Fort Lauderdale, FL, Panama City Beach, FL, and Destin, FL.   For more information, please contact our sales department at [email protected], call 1 800 294 0387 or visit the Oil Claim Calculator Home Page at www.oilclaimcalculator.com or follow us on Twitter at https://twitter.com/OilClaimCalcula


Media Contact: Emily Guillini, IT Strategies Group, +1-561-285-1092, [email protected]

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SOURCE IT Strategies Group

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