General Motors’ ignition switch compensation fund has finished its review of over 4,000 submissions and has officially linked 124 deaths and 274 injuries to the faulty part.
The faulty ignition switches, which led to the recall of over 2 million vehicles, allowed the vehicles’ keys to inadvertently turn to the ‘off’ position, cutting the engine and disabling the airbags and power steering. GM hired attorney Kenneth Feinberg to handle compensation for those drivers who were in accidents as a result of the faulty switches.
SEE ALSO: GM Ignition Switch Death Toll Hits 124
A total of 4,343 claims were filed in total to Feinberg’s office, 3,944 of which were found ineligible for compensation. Each one of the 124 accepted death claims received at least a $1 million settlement for the person who died and an additonal $300,000 each for every surviving spouse or dependent.
Approved injury claims landed at 275 which is made up of 258 minor injuries and 17 serious injuries. Minor injuries are defined as requiring hospitalization treatment within 48 hours of the accident. Serious injuries are those that resulted in paraplegia, double amputation, permanent brain damage or pervasive burns.
Minor injury claimants received between $20,000 and $500,000, while some of the major injury claims received more money than approved death claims.
GM is still under criminal investigation over the ignition switch situation, as the company waited nearly 10 years to recall the cars after signs of the faulty switches presented themselves.
[Source: Automotive News]
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