GM Fund Rejects 91 Percent of Ignition Switch Claims
Posted on behalf of Phillips Law Group on Aug 26, 2015 in Defective Products
Attorney Kenneth Feinberg received 4,000 plus claims regarding General Motors faulty ignition switches. Approximately 90 percent of the claims were dismissed.
Of the thousands of claims received, 275 injuries and 124 deaths were linked to the faulty ignition switches; 17 of the 275 injuries were deemed serious. GM hired Feinberg to handle payment of the crash victims of the defective switches.
Last year, GMs defective switches caused a huge recall of over 2.6 million vehicles. The switches are defective because, if they are bumped by your knee or a heavy key chain, the ignition switch could move from the run position and cut power to both the engine and power steering.
The payouts are as follows: $300,000 for a surviving spouse and dependents and $1 million for each person who died because of the faulty switches. GM designated $625 million to pay victims of the faulty ignition switches.
Minor injuries, which consisted of hospitalization or outpatient treatment within 48 hours of the accident, made up 258 of the injury claims. The remaining 17 injury claims were serious and involved paraplegia, extensive burns, double amputation, permanent brain damage and quadriplegia.
Payouts vary for victims of severe injuries and they can exceed death claim payouts. Payouts for eligible minor injuries are anywhere from $20,000 to $500,000 per claimant. GM has not commented on the completion of claim reviews.
If you or a loved one has been injured in a car crash or another type of auto accident caused by a vehicle defect, reach out to Phillips Law Group and speak with one of their seasoned product liability attorneys immediately.