According to the Associated Press, General Motors will not place a cap on compensation for the victims of crashes caused by its bad ignition switches.
The AP reported that Kenneth Feinberg, a compensation expert, was expected to reveal the terms of a compensation plan last week to the public. GM CEO Mary Barra said there will be no cap on payments for victims.
“[Feinberg] will have complete independence,” Barra said under questioning about the recall, according to the AP. “General Motors wants to reach with this compensation program everyone who lost a loved one due to this issue, or who suffered serious physical injury.”
The company reported that the switches are responsible for at least 54 crashes and more than 13 deaths, but, according to the AP, lawyers and lawmakers say the death toll is closer to 100, with hundreds of injuries. The news outlet reported that this could result in a loss of billions of dollars for GM.
It should be noted that Feinberg administered the government’s $7 billion fund for the 2,977 victims of the Sept. 11, 2001 terrorist attacks. The AP reported that the GM compensation would likely be limited to “victims of crashes of older small cars, of which GM recalled 2.6 million earlier this year because the switches can cause engines to stall, shutting off power steering and brakes.”
GM has announced that it expects to begin taking claims on August 1. However, to get a payment, victims would have to agree not to sue GM.
The recall affects millions of cars, including the Saturn Ion (2003-2007), Chevrolet Cobalt (2005-2010), Chevrolet HHR (2006-2011), Pontiac G5 (2007-2010), Pontiac Solstice (2006-2010) and Saturn Sky (2007-2010).
How Do I Sue GM If I Was Hurt in a Recalled Vehicle?
If you have had a loved one killed or injured in a GM vehicle affected by the recall, you should contact our Nashville vehicle accident lawyer before you seek a claim with the company. If you file a claim and settle your case with GM, you may surrender your right to hold it liable in court and get significantly less compensation than you would through a lawsuit.
Car accidents involving recalled vehicles can result in catastrophic injuries like spinal cord injury, traumatic brain injury (TBI) or broken bones. Contact us today and fight back if your family was affected by GM’s negligence.
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