General Motors Company (NYSE:GM) has approved 27 deaths for compensation so far in a settlement program opened in August. The company has been receiving complaints from victims and families relating to injuries and deaths that emanated from a defective ignition switch in some of the company’s vehicles. Out of all the 1,193 injury complaints received so far, only 25 have been verified to have suffered serious injuries as a result of the fault.
The new figures were released on Monday by Attorney Kenneth Feinberg, the lawyer mandated by General Motors Company (NYSE:GM) to oversee the complaints and compensation process. According to him, the total complaints submitted relating to deaths are 178 and only 27 have been found eligible for compensation.
The program considers all the complaints submitted and investigates whether the said death or injury was actually caused by the defective switch. If approved, a compensatory offer is extended to the complainant. The complainant can either accept or reject the offer. So far, 31 offers have been extended to complainants, 21 have been accepted, and none has been rejected.
The said faulty switch led to the recall of up to 2.6 million vehicles early this year.
General Motors Company (NYSE:GM) will continue to receive complaints until the end of the year. More complaints have been coming in, with the figure rising 21% from last week’s 1,130. Complaints include small to serious injuries and deaths.
The compensation program considers a number of factors in determining the total amount that each victim is paid. Age, dependents, level of injury, and death are some of the things taken into account. In case of death, the family receives at least $1 million in compensation, with the figure likely to go up where someone had dependents.
General Motors Company (NYSE:GM) motors has been hit by several challenges this year. The company has recalled up to 30 million vehicles due to different defects.
This article has been written by Victor Ochieng.
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