While driving his car, Sean causes an accident with a school bus that injures several children. The children are awarded damages of $1,600,000. Sean has a Personal Auto Policy (PAP) with a bodily injury liability limit of $500,000 per accident. He also has an umbrella policy with a $2,000,000 limit of liability and a $1,000 self-insured retention (SIR). What amount will the umbrella insurer pay for this accident?

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While driving his car, Sean causes an accident with a school bus that injures several children. The children are awarded damages of $1,600,000. Sean has a Personal Auto Policy (PAP) with a bodily injury liability limit of $500,000 per accident. He also has an umbrella policy with a $2,000,000 limit of liability and a $1,000 self-insured retention (SIR). What amount will the umbrella insurer pay for this accident?

A. $1,099,000

B. $1,100,000

C. $1,599,000

D. $1,600,000

Answer: A. $1,100,000.

The above question While driving his car, Sean causes an accident with a school bus that injures several children. The children are awarded damages of $1,600,000. Sean has a Personal Auto Policy (PAP) with a bodily injury liability limit of $500,000 per accident. He also has an umbrella policy with a $2,000,000 limit of liability and a $1,000 self-insured retention (SIR). What amount will the umbrella insurer pay for this accident?, Was part of Insurance MCQs & Answers. I hope you got the correct answer to your question. Have a great time ahead.