The GM ignition switch compensation fund has now approved 114 death claims and will be wrapping up its review shortly.
The fund, which is run by lawyer Kenneth Feinberg, has also approved nine new injury claims, bringing the total of approved claims to 13 for serious injuries and 216 for less severe injuries.
Only 2.5 percent, or 109, of the 4,342 submitted claims are still under review, which means the fund will likely conclude its investigation sometime this summer. Another 35 claims may be added to this list, if the proper documentation is filed.
GM will pay at least $1 million for all approved death claims, while the company set aside a total of $550 million to pay all of the claims. To date, 229 offers have been made, 161 of which have been accepted while six have been rejected.
GM initially claimed that 13 deaths were related to the faulty ignition switch, which can inadvertently shut off the car’s engine, causing the airbags and power steering to stop working. The U.S. Justice Department is now close to reaching a decision on whether or not to criminally charge GM for delaying the recall action of these cars for nearly a decade. A fine of over $1 billion may also be levelled at the company.
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