Tagged: gm recall

GM won’t pay ignition-switch claims out of insurance funds

“It will be done through cash on hand, no insurance.” – David Roman, GM’s director of financial communications. General Motors has committed to paying all of its ignition-switch claims out of its own pocket. David Roman, the company’s director of financial communications, told Business Insurance, “It will be done through cash on hand, no insurance.”It’s not entirely clear how much damage the out-of-pocket compensations will do to GM’s wallet, although families of those killed are eligible for $1 million, at minimum. The final number, Roman said, is up to Kenneth…