Photo: GM
The compensation expert hired by General Motors to come up with the compensation plan for the 13 people that died in crashes linked to the infamous defective ignition switch fiasco declared that the manufacturer will award families that lost their loved ones in the aforementioned accidents with "at least $1 million."
Kenneth Feinberg further declared that the Detroit giant won't put a cap on claimed amounts, while the criteria for deciding the actual payouts will be broad. That made us wonder if the American manufacturer is preparing for extra disbursements, other than the ones covering the 13 dead officially pinned by General Motors to be linked to the glitchy switches fitted to millions of cars since the dawn of the noughties.
Mr. Feinberg gave a practical example of how much money the family of a 25-year-old married woman with two children would get if she would have died in an incident involving a GM vehicle fitted with a defective ignition switch. If the woman in question would've earned $46,400 per year at the time of accident, her family would receive about $4,000,000. However, General Motors can do way 'better' than that.
If a child hypothetically sustained life-altering injuries as a result of an accident involving a flawed GM vehicle, the kid's family would receive compensation in the double-digit millions over "lost earning power" and other more detailed factors. Attorney Feinberg's compensation formula also specifies that each surviving spouse and dependent get an additional $300,000. The compensation expert told that people that had their beloved fatally injured of significantly injured in a crash can file a claim to GM only between August 1st and December 31st.
However, we feel it's a must to underline the two most important thresholds for eligibility to access GM compensation. Firstly, the crash must have involved one of the nameplates officially recalled by the manufacturer for the replacement of glitchy ignition switches, the other being that there must be evidence the airbags haven't deployed properly. Anyway you look at it, the latter is sort of hard to identify by crash investigators and it might be there to provide the automaker with a loophole for not paying compensations to affected families.
Please visit www.gmignitioncompensation.com for more info on General Motors' compensation plan.
Mr. Feinberg gave a practical example of how much money the family of a 25-year-old married woman with two children would get if she would have died in an incident involving a GM vehicle fitted with a defective ignition switch. If the woman in question would've earned $46,400 per year at the time of accident, her family would receive about $4,000,000. However, General Motors can do way 'better' than that.
If a child hypothetically sustained life-altering injuries as a result of an accident involving a flawed GM vehicle, the kid's family would receive compensation in the double-digit millions over "lost earning power" and other more detailed factors. Attorney Feinberg's compensation formula also specifies that each surviving spouse and dependent get an additional $300,000. The compensation expert told that people that had their beloved fatally injured of significantly injured in a crash can file a claim to GM only between August 1st and December 31st.
However, we feel it's a must to underline the two most important thresholds for eligibility to access GM compensation. Firstly, the crash must have involved one of the nameplates officially recalled by the manufacturer for the replacement of glitchy ignition switches, the other being that there must be evidence the airbags haven't deployed properly. Anyway you look at it, the latter is sort of hard to identify by crash investigators and it might be there to provide the automaker with a loophole for not paying compensations to affected families.
Please visit www.gmignitioncompensation.com for more info on General Motors' compensation plan.
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