GM: No Cap on Compensation for Ignition-Switch Defect Victims

GMRecallCompensation

The administrator of GM's compensation fund for victims of its massive ignition-switch-defect debacle vowed that the automaker will pay "whatever it takes" to resolve all related claims, the Detroit News reported today. That includes placing no overall cap on the fund, which could be open to thousands of victims and their families affected by crashes in which airbags failed to deploy in nearly 2.6 million vehicles. Backseat passengers, as well as pedestrians and occupants of other vehicles involved in the crashes, could be eligible for payments, which will be at least $1 million for all deaths and $300,000 for surviving spouses and children, the newspaper reported. The offer extends to all crashes involving unrepaired recalled vehicles through Dec. 31 of this year, which means some incidents covered by the fund may not even have occurred yet.

Get the full story from the Detroit News, here.

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Comments 

Anonymous Coward

Wow. How long until GM's second bankruptcy?

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