|DETROIT, MI- The General Motors Co. ignition switch compensation program has received 309 claims through Monday, including 107 related to fatal accidents.|
Camille S. Biros, of Feinberg Rozen LLP, which is overseeing the program for the Detroit-based automaker, said payments to eligible victims and their families are expected to be finalized by the end of September. She said the number of claims filed has no correlation to the amount of individuals expected to be paid through the program, which could cost GM hundreds of millions of dollars.
The voluntary compensation program was announced by GM and renowned compensation attorney Kenneth Feinberg in late-June. There is no financial cap on the program and everyone that meets stringent guidelines set by Feinberg are eligible for the program.
Feinberg Rozen started accepting claims Aug. 1. It will continue accepting claims through Dec. 31.
GM has linked the faulty ignition switches to at least 13 deaths and 54 crashes, but others, including victims' family members and lawyers, say the death toll is closer to 100. GM has said its numbers could increase based on Feinberg's findings because it only included those involved in front-end collisions.
Kenneth Feinberg, the independent claims administrator for the GM Ignition Compensation Program, announces the details of the program, including eligibility, scope, rules for the program, and timing of submitting claims, during a news...