Many of you are already aware of the infamous General Motors recall saga. Out of all recalled vehicles, the most notorious are the ones that suffer from glitchy ignition switches, a defect that was related to more than a dozen deaths up to now.
For that, GM has prepared a special compensation fund for the families of those that lost their lives in such accidents. Kenneth Feinberg, the man that took care of compensation for the 9/11 terrorist attack victims, administrates the compensation program that has received more than 300 applications up to this point, with 125 citing fatalities.
58 applications have been filed for serious injuries, while 262 filings cite minor injuries related to the ignition switch problem. Out of all the aforementioned, General Motors has approved 19 death claims, which is 6 cases more than GM's in-house estimate.
In addition to these, the American automaker is also facing hundreds of lawsuits nationwide because plaintiffs are still waiting for courts to decide on the automaker's bankruptcy liability shield before submitting claims through General Motors' own compensation fund. It is estimated that GM will spend anything between $400 to $600 million to cover injury or death claims approved by the bigwigs.
General Motors is offering at least $1 million to families of those who lost their lives in accidents related to the glitchy switches. In addition to that, mourning families will be offered a sum of money determined by the victims' earning potential and another $300,000 for every surviving spouse and dependent.
For that, GM has prepared a special compensation fund for the families of those that lost their lives in such accidents. Kenneth Feinberg, the man that took care of compensation for the 9/11 terrorist attack victims, administrates the compensation program that has received more than 300 applications up to this point, with 125 citing fatalities.
58 applications have been filed for serious injuries, while 262 filings cite minor injuries related to the ignition switch problem. Out of all the aforementioned, General Motors has approved 19 death claims, which is 6 cases more than GM's in-house estimate.
In addition to these, the American automaker is also facing hundreds of lawsuits nationwide because plaintiffs are still waiting for courts to decide on the automaker's bankruptcy liability shield before submitting claims through General Motors' own compensation fund. It is estimated that GM will spend anything between $400 to $600 million to cover injury or death claims approved by the bigwigs.
General Motors is offering at least $1 million to families of those who lost their lives in accidents related to the glitchy switches. In addition to that, mourning families will be offered a sum of money determined by the victims' earning potential and another $300,000 for every surviving spouse and dependent.