General Motors has announced that they will be setting up a compensation plan for victims that were involved in accidents caused by one of their recalled vehicles. Earlier this year, the company recalled millions of vehicles due to a faulty ignition switch that has led to a lengthy investigation.
If you or someone you know was injured in an accident involving a recalled General Motors vehicle, contact our product liability attorneys to determine what your legal rights are.
The compensation plan will only be available to those who can prove the faulty ignition switch led to the car crash.
Families who lost a loved one will be eligible to file a claim as well as drivers, passengers, pedestrians and those in other vehicles that were injured in the crash.
On Monday, the announcement was made by Kenneth Feinberg. Feinberg is best known for his role in helping create a formula for compensating the victims of 9/11. He intends to use the same formula for GM; the formula takes into account a persons age, their earnings potential and the severity of their injury.
The program will recognize three specific categories:
- Death claims
- Claims from those with serious personal injuries such as paralysis or traumatic brain injury
- Claims involving minor injuries that still required hospitalization or outpatient medical treatment
Anyone who believes they may be eligible to file a claim can go on the company’s website to file their demand beginning Aug. 1. Claims will be accepted through the end of 2014. The claims will be processed between 90 and 180 days and claimants will receive whatever amount the Administrator deems appropriate.
Although there is no fee to apply, claimants who accept the restitution will waive their right to file a lawsuit against GM.