General Motors ignition switch compensation fund rejects 91 percent of 4,343 claims

Markets Associated Press

Lawyers hired to compensate victims of General Motors' faulty ignition switches have rejected 91 percent of the claims submitted.

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They finished determining which claims were eligible last week.

The compensation fund led by lawyer Kenneth Feinberg approved 399 of the 4,343 claims filed and rejected 3,944. The fund has made offers in 124 death cases and 275 injury crashes. Of those, 325 were accepted, eight rejected and 65 haven't decided.

Two injury claims were added to the eligible list in the past week

Families of those who died will get at least $1 million. GM has set aside $625 million to compensate people.

The company recalled 2.6 million older small cars last year. Ignition switches can slip out of the run position and cause the cars to stall.