Takata rejects call for fund to compensate compensation fund
Takata Corp. says a compensation fund for people hurt by exploding air bags isn't needed at this time.
The Japanese company responded this week to a call from Senator Richard Blumenthal of Connecticut to commit to a fund similar to one set up by General Motors for victims of crashes caused by faulty ignition switches.
Executive Vice President Kevin Kennedy in a letter wrote that Takata senior management considered a fund and will continue to evaluate it. But at present, he says a fund isn't required due to the limited number of claims against the company.
At least eight people have been killed and more than 100 injured by air bags that can spew shrapnel into drivers and passengers.
Blumenthal asked Kennedy about the fund at a June 23 hearing.