The number of deaths tied to a defective ignition switch in GM vehicles continues to rise. Now it stands at 27, up from 24 last week. The number of injury compensation claims remains at 16, according to General Motors Co.’s compensation fund.
General Motors has set up a fund to compensate victims of faulty ignition switches in mid-to-late-2000s model vehicles. It resulted in a major recall and a federal investigation. Kenneth Feinberg, an attorney and independent administrator, oversees the fund. He was overseeing similar compensation facilities after such catastrophes as the BP oil spill in the Gulf of Mexico, Boston Marathon bombing and the September 11 attacks.
The number of claims received has reached 1,130.
The compensation fund will continue to receive claims until December 31. General Motors has stated it expects to spend $400-$600 million to compensate all victims for the ignition switch. The automaker is offering to pay up to several million dollars to the families of the victims killed and injured in these accidents. The reimbursement will be linked to the level of injury or loss experienced. At least $1 million will be paid for an eligible death claim.
Why did it happen?
The problem with faulty ignition switches went unreported for a decade, years after the automaker’s engineers disclosed it. In result, the faulty switches caused brake and steering issues, as well as prevented the airbag from deploying. Thus, major scrutiny to the automaker’s handling vehicle safety issues led to a range of recalls covering approximately 2,6 million vehicles including 2003-2007 Saturn Ions, 2007-2010 Saturn Skys, 2005-2011 Chevrolet HHRs, 2006-2010 Pontiac Solstices, and 2005-10 Chevrolet Cobalt and Pontiac G5 models. The next step for victims is to decide whether they suffered from the scrutiny and get compensation they deserve.
If you or your close ones suffered during driving a GM vehicle, contact the Margarian Law Firm at (818) 553-1000 to find out how we may help you.