Florida Realtors receive $16M

Florida Realtors will receive $16 million from BP Plc to pay claims to the state's real estate professionals, a release said. The money is part of a larger allocation negotiated by five state realtor organizations.

“Providing this special allocation is a positive, responsive action on Mr. Feinberg's part — one that will help people move forward and reclaim their lives,” said Florida Realtors President Wendell Davis of his partner in negotiations, Kenneth Feinberg. Feinberg is an administrator in charge of handling the British Petroleum Oil Spill Fund.

NCA, an independent claims adjustment firm based in Indiana, will handle the claims filed by Florida Realtors, according to the release.

Formerly known as the Florida Association of Realtors, Florida Realtors represents more than 115,000 members from 67 boards and organizations.