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In re Estate of Arnold9/16/2003
in original).]
State Farm's policy, like the policy in Mead , specifically references amounts "payable under this coverage." The Court in Mead found this language to clearly refer to the policy limits and, hence, to clearly evidence the intent that the policy limits are to be reduced by the sums paid from other sources. In light of the similarity of the language employed in State Farm's insurance contract and the insurance contract construed in Mead , the trial court correctly determined that the set-off was to be applied against limits of the State Farm policy.
The Auto-Owners' policy does not contain the "under this coverage" language. However, paragraph 4(d) contains the language " he amount we pay." This phrase relates back to the first sentence of paragraph 4 where the amount Auto-Owners will pay is specified as "up to the Limit of Liability stated in the Declarations." The limit of liability stated in the declarations for residual uninsured motorist coverage is $250,000 per person and $500,000 per occurrence. Reading the first sentence of paragraph 4 together with the text of subparagraphs d(3), wherein the offset is detailed, reveals that the settlement offset shall be against the coverage limits and not against the total amount of the damages.
Affirmed.
E. Thomas Fitzgerald
Richard Allen Griffin
Henry William Saad
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