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At a glance: GM ignition switch compensation plan

Published on NewsOK Modified: June 30, 2014 at 11:06 am •  Published: June 30, 2014
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General Motors Co. has hired Kenneth Feinberg, a top compensation expert, to pay people harmed in crashes caused by faulty ignition switches in older-model small cars. GM says it's trying to do the right thing by making the payments. The company says at least 54 crashes and 13 deaths were caused by the problem, but lawyers and lawmakers say there will be hundreds of claims.

Here are details of the compensation plan announced Monday:

WHO'S ELIGIBLE: Drivers, passengers, pedestrians, and people in other cars involved in crashes with the GM vehicles who suffered physical injuries or relatives of people killed in crashes. Property damage claims and claims of psychological injury won't be included.

DEADLINE: People can begin applying for compensation Aug. 1. The deadline for filing a claim is Dec. 31. Feinberg expects most claims to be processed in 90 to 180 days.

COMPENSATION LIMITS: None for deaths or extreme injuries such as permanent brain damage, loss of limbs, paralysis and serious burns. Less serious injuries are limited by formulas similar to what Feinberg used to compensate those injured in the Boston Marathon bombings. People can get quick settlements based on formulas for death and extreme injuries, or they can try to prove to Feinberg that they should get more money by proving extraordinary circumstances. Feinberg says GM has placed no limit on the total he can spend. Lawyers say it will be in the billions.

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