GM Will Reveal Recall Compensation Plan on Monday

The plan General Motors Co. is developing to compensate victims of crashes attributed to defective GM ignition switches will be announced on Monday.

Ken Feinberg, the victim compensation expert who has been developing the plan, tells Automotive News he will reveal details during a press conference on Monday morning in Washington, D.C.

Victims and their families will have the option of accepting GM's plan or filing separate lawsuits against the company. GM has acknowledged 13 fatalities linked to the defect, which can unexpectedly shut off the engine and power to the steering, brakes and airbags.

CEO Mary Barra has said she wants the compensation plan to apply to anyone significantly injured in a crash in which the switch caused the engine to stall, not just crashes in which the failure of airbags to deploy was a factor.