General Motors has received 100 death claims seeking compensation for lives lost due to defects in vehicles and lag in their recall.
General Motors, one of the largest automakers around the world, continues to pay the price for its negligence in addressing the major ignition switch defect in 2.6 million cars. After setting up a compensation fund for the families of those who lost their lives and suffered injuries in cars related to the recall, a newly hired consultant for GM's settlement fund said he had received 100 death claims and 184 injury claims as of Friday, USA Today reports.
General Motors has pledged to pay the victims who suffered due to the faulty ignition switches, which shut off the engine unexpectedly and disable the airbags. The compensation fund will be open to claims until December 31, 2014, and all claims will be evaluated and responded to within three to four months.
Consultant Ken Feinberg was hired by GM to administer the compensation fund set up by the car maker. His responsibility is to evaluate every request for its authenticity. The claimants must prove that the faulty ignition switch was responsible for the accident and Feinberg will determine if they are eligible for any sort of compensation. Feinberg was previously tasked with the compensation given to the victims of 9/11 terrorist attack among other high-profile tragedies.
General Motors hasn't set a limit to its compensation fund but estimates the cost to range between $400 million to $600 million. The car maker is offering at least $1 million to the families of those who lost their loved ones in GM's defective car accidents and another $300,000 for their spouse and dependants left behind, CNN reported.
The estimated cost does not include the payouts to those who opt to sue GM instead of a settlement, USA Today added. The eligibility criteria for the payouts have been listed by Feinberg on GM's dedicated ignition compensation website.
