Workers compensation is the system by which no-fault statutory benefits prescribed in state law are...
"limits reduction" provision
A limits reduction provision is used in connection with uninsured and underinsured motorists (UM/UIM) coverage referring to limit of insurance provisions that set out how UM/UIM coverage is affected by the existence of other types of coverage (e.g., auto medical payments, workers compensation) that may apply as well.
Additional Information
Under limits reduction, the limit of insurance under UM/UIM is reduced by payments from other types of insurance, as specified in the applicable UM/UIM endorsement.
Synonyms
collateral sources
Related Terms
Medical payments, auto, is optional coverage under an auto policy to pay for medical expenses for...
Uninsured motorists (UM) coverage applies to bodily injury and, in some states, property damage...
