GM Recall Program: Deaths Rise to 23


GM Recall Program: Deaths Rise to 23

September, 2014

Dear Care for Crash Victims Community Members:
NY Times reports on crash victims acknowledged under the GM “Compensation” Plan.  This is an excellent article that gives readers a glimpse of the human tragedies and some of the costs faced by crash victims.

See http://www.nytimes.com/2014/09/30/business/deaths-tied-to-flawed-general-motors-ignition-rise-to-23-as-compensation-offers-go-out.html?hpw&rref=automobiles&action=click&pgtype=Homepage&version=HpHedThumbWell&module=well-region&region=bottom-well&WT.nav=bottom-well

Reuters reports “Under the program’s protocol, eligible death claims will receive at least $1 million, which could increase depending on factors such as whether the deceased had any dependants. GM has set aside $400 million to cover the compensation costs, and said the total could rise by another $200 million.”  Seehttp://www.reuters.com/article/2014/09/29/us-gm-recall-compensation-idUSKCN0HO1F220140929

DOT Policy Guidance on the value of a statistical life should be calculated at $9.1 million in 2012.  See attached DOT document.  If the GM “Compensation” plan met that U.S. policy the 23 deaths so far would cost GM more than $209 million.
Unfortunately many, probably most if not all, crash victims are not likely to receive anything like the dollars called for by U.S. policy guidelines.  See https://www.careforcrashvictims.com/assets/MonthlyReport-June-July-2014.pdf 
Lou

 

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