holding UIM insurer entitled to setoff where exhaustion clause stated: "With respect to underinsured motor vehicles, [UIM Provider] will not be obligated to make any payment until the limits under all bodily injury insurance policies and liability bonds applicable at the time of the accident, including other than motor vehicle insurance, have been exhausted by payments of settlements or judgments"
Summary of this case from D'Adamo v. Erie Insu. Exchange1996
holding UIM insurer entitled to setoff where exhaustion clause stated: "With respect to underinsured motor vehicles, [UIM Provider] will not be obligated to make any payment until the limits under all bodily injury insurance policies and liability bonds applicable at the time of the accident, including other than motor vehicle insurance, have been exhausted by payments of settlements or judgments"
Summary of this case from D'Adamo v. Erie Insu. ExchangeFull title:PETITIONS FOR ALLOWANCE OF APPEAL
Court:Supreme Court of Pennsylvania
Date published: Jan 1, 1996
An insured may accept a reasonable third party settlement in order to ensure prompt payment and lessen…
Nationwide Ins. Co. v. Schneider¶ 22 The pertinent clause in the Nationwide policy provides that "[n]o payment will be made until the limits…