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Compensation Claims Accepted From GM Ignition Switch Defects Climb

July 30, 2023
in Trade Tube
Reading Time: 1 min read
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The families of 52 people killed in crashes caused by faulty General Motors small-car ignition switches will receive millions in compensation from a company fund. Each death claim is worth at least $1 million under guidelines established by compensation expert Kenneth Feinberg, who was hired by GM to handle claims. As of Friday, the fund received more than 4,200 claims for deaths and injuries. In addition to the death claims, Feinberg has deemed 79 injury claims eligible for compensation. Initially, GM had said at least 13 people had died in crashes caused by the switches, but the company has always said the toll would rise. Legislators have estimated that at least 100 people were killed. Last year GM set aside $400 million to make payments, but conceded that could grow to $600 million.

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