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The Neverending Story

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On: Mon, Feb 2, 2015 at 9:09AM | By: Karen Cook


The Neverending Story

After the flurry of GM recalls last year, it’s no surprise that the automaker is still dealing with the repercussions. Of course, the major issue was the faulty ignition switch. Claims are still being received over at General Motors with 108 coming in last week alone.

According to Kenneth Feinberg, the lawyer hired by GM to oversee the compensation program, the current total of petitions for compensation has reached 2,818 to date, including the new ones from last week. There are 311 claims for wrongful death and 207 for catastrophic injuries, which include major head injuries with or without debilitation and loss of limb or mobility. The remaining 2,300 claims are for less serious injuries but those which require hospitalization and/or surgery.

The number of claims which the company’s lawyer has deemed eligible for payment rose from 112 to 121 last week. 49 of those are for wrongful death, seven for severe injury, and 65 for other miscellaneous injuries.

320 have been disqualified as not having been caused directly from the faulty switch. 757 have been returned because there was documentation missing or incomplete. It remains to be seen whether the claimants will be able to complete the claim and send it back through. 763 were sent with no paperwork at all and are ineligible for this reason. That leaves 857 claims still on the desk of Mr. Feinberg awaiting his review and decision.

GM set aside $400 million to cover the costs of compensating the injured due to the defective ignition switch. As of now, it seems to be slow going and with more claims still be received by the compensation department, there’s no end in sight. Presumably, there will be some sort of cut-off date for submitting documents but there’s no word of when that will be. One has to wonder if $400 million will be enough.

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Comments

reply

Stephy | 9:42AM (Wed, Feb 4, 2015)

Wow do they really think $400 Million will be enough for all those claims?

I guarantee they spend more than that.



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