GM Fund Approves 3 New Death Claims Related To Ignition Switch Recall
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GM’s ignition switch compensation fund on Monday officially approved three additional death claims, which brings the official total to 77 deaths.
The fund also approved 15 new injury claims, raising the official number to 141. In total, 11 claims are for serious injuries while the other 130 are for less severe injuries. All the new injury claims were for less severe injuries.
Camille Biros, the fund’s deputy administrator, said earlier this month that GM has extended 119 offers–93 were accepted and five were rejected. Meanwhile, 61 payments have been made or are in the process of being made. Once a person or family accepts a claim, their right to sue GM is forfeited.
In total, 4,342 claims were submitted by the January 31, 2015 deadline, 475 of which were death claims. There’s also a good chance the total number of death claims will rise even higher in the coming weeks– 89 death claims are still under review. A further 1,174 injury claims are also under review.
Ken Feinberg, Administrator of the GM compensation fund, has ruled 1,173 claims ineligible while a further 1,042 are “currently listed as deficient”. He estimates it could take up to six-months for the fund to fully process all of the death and injury claims.
GM will pay $1-million for each approved death claim, which means the company has already spent $77-million on death claims alone. GM has set aside $400-million for the claims but has said the cost could rise to $600-million.
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