Weekly GM ignition fund update: 104 new claims image

Since last week’s already traditional update, General Motors and the office of Ken Feinberg, the attorney in charge of oversight, have received 104 claims for compensation for ignition switch issues in cars.

This February General Motors started the first huge auto crisis of the year, recalling 2.6 million cars (and many more millions after that) because of a defective ignition switch that could cause an engine stall mid-driving, cutting power to essential safety systems, including the airbags. Since the recall blew over in a huge scandal, Gm has set up a victims’ compensation program, independently managed by Kenneth Feinberg, an attorney with experience in such cases, having directed the similar funds for the 9/11 terror attack victims or the 2010 BP oil spill.

With the latest batch of claims, the total has reached 2,430, according to the official: GM has received 260 claims for fatalities, 172 for catastrophic injuries and 1,998 for less-serious injuries that still required at least a trip to the hospital. The number of claims that have been deemed eligible remains the same, though: 42 deaths, seven severe injuries and 51 other injuries can receive payment. The program would still accept new claims through January, 2015. The No. 1 US automaker has set aside a provision of $400 million, but also acknowledged the fund to have uncapped funding, if needed.

Via Reuters