General Motors' independent fund set up to compensate victims of accidents involving faulty ignition switches said it awarded $594.5 million and approved 399 death and injury claims.The payout was slightly less than the $600 million originally set aside for the fund's payouts, but GM's total costs related to the ignition switch defects now top $2 billion -- including a $900 million settlement with the U.S. Department of Justice in September, the fund said today in its final report before winding up operations.
The fund run by compensation expert Ken Feinberg said 91 percent of proposed awards were accepted by the victims. That included all 124 death claims, and 16 of 18 serious injury claims.
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