Kenneth Feinberg, who oversaw a federal compensation fund for victims of the 9/11 terror attacks, will be the new fund's administrator.
Organizers say the program is designed to provide claimants prompt compensation while avoiding the costs and delays associated with lawsuits.
The Reno Gazette-Journal reports compensation will be based on categories of injuries, ranging from $15,000 for bruises and cuts to $75,000 for major injuries that involved surgery or third-degree burns.
A modified World War II P-51 Mustang crashed last September at the air races, killing 11 people and injuring about 70 others.
Click here to go to the fund's website.
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