Compensation Plan for Victims of G.M.'s Faulty Ignition Switch

 Posted on July 02, 2014 in General

September 11th victims' fund attorney Kenneth Feinberg has summarized a plan to compensate victims of the defective ignition switch that was installed in 2.6 million vehicles by General Motors. This plan could speed up payments to the victims without forcing them to sue G.M. Attorney Feinberg's report describes that families of anyone injured or killed by the faulty ignition switch would receive at least $1 million.

The monetary amount a family or a victim receives is based of the victim's lifetime earning potential and if they had a surviving spouse and/or children. Though there is no cap to the amount of money G.M. would pay under Attorney Feinberg's plan, those seeking compensation will have to provide sufficient evidence that the faulty ignition switch was a primary factor in the cause of death or injury.

This approach to a General Motors compensation fund, however, may not work for all those looking for retribution for loved ones lost. There are still others independently pursuing their cases but the legal process could be lengthy.