by maxjlone on Thu Sep 10, 2009 1:25 am
You will see from that list of requirements for a policy limits settlement, there is NO SUCH FORM AS YOU DESIRE. The third party will NOT SETTLE unless it gets a full release. Since your company's claim versus the tort-feasor is derivative from yours, it will be extinguished should you release the tort-feasor. Therefore, you CANNOT SIGN A FULL RELEASE without first having given your own UIM carrier adequate written notice and a chance to buy out the settlement. Chances are that they will never do this, but still they can refuse to pay your UIM claim should you first release the tort-feasor.