GM Fund Pays $595 Million in Claims for Ignition-Switch Recall

CARS.COM — GM's faulty ignition-switch claims program has paid $595 million on 399 claims, according to the automaker's fund final report released today, 16 months after the fund started making payments. The automaker had set aside $600 million for claims. 

Related: GM Ignition Recall

In the final report, the GM Ignition Compensation Claims fund reported it had reviewed 4,343 claims. The 399 claims that were eligible for compensation involved injury or death, and those who accepted payments waived the right to to sue GM or seek additional damages, according to Reuters. The automaker, however, faces hundreds of lawsuits associated with the ignition switch; some trials are slated to begin in January.

In 2014, GM recalled nearly 2 million cars in the U.S. due to ignition switches that could rotate out of the On position, turning off the car while moving. A GM internal investigation found the automaker ignored the problem for years. GM later fired 15 employees associated with the defect.

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