General Motors says it will launch a compensation program for crash victims or their families as a result of faulty ignition switches linked to at least 13 deaths that prompted a recall of 2.6 million cars.
The company said Thursday it expects the program will start accepting claims Aug. 1. It will be administered by compensation expert Kenneth Feinberg.
The announcement comes the same day a report is expected to be released that was authored by former U.S. Attorney Anton Valukas and paid for by General Motors.
CEO Mary Barra said Thursday morning that the report finds a pattern of incompetency and neglect, but not a cover-up, at the heart of the Detroit automaker’s long delay in dealing with faulty ignition switches.
Was this article valuable?
Here are more articles you may enjoy.
Florida’s Fix for Insurance Crisis Puts More Risk on Homeowners 
Humans, Not AI, Still A Cause of Most Cyber Losses in First Half of Year 
Binance Claims RedotPay Diverted Users in $470 Million Lawsuit 
Cost of a Data Breach Reaches Record $5 Million on Average 
Want to stay up to date?
Get the latest insurance news
sent straight to your inbox.