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GM Prepares Crash Compensation Fund

 
GM Prepares Crash Compensation Fund
Posted Tuesday, August 26th 2014 @ 12pm

The compensation fund set up for the families of victims and those seriously injured in General Motors vehicles has received 284 claims through Friday, including 100 claims for deaths.

The fund, which began accepting applications for funding on Aug. 1, has received 184 claims for physical injuries and 100 for deaths, according to the deputy administrator of the fund. The fund hasn't made any determinations if the deaths are eligible for compensation.

The fund is the result of a botched recall of over two-and-a-half million vehicles with faulty ignition switches. GM has set aside $400 million to pay claims but says the total could hit $600 million.

The fund will accept applications through Dec. 31.

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