Legal Opinion
Farmers Ins. Co. of Ariz. v. Sandoval
New Mexico Court of Appeals
Decided April 4, 2011No. 29,537PublishedCited by 8 opinions
1Opinion of the Court
OPINION
WECHSLER, Judge.
{1} In this appeal, we must determine whether an insurer is entitled to offset an injured insured’s award of underinsured motorist (UIM) benefits by a tortfeasor’s liability policy limits when the insured receives an amount less than policy limits due to a contractual exclusion for punitive damages. In light of the remedial purpose of NMSA 1978, Section 66-5-301 (1983), we conclude that the insurer’s offset is limited to the amount of money actually received by the insured from the tortfeasor. Accordingly, we reverse the judgment of the district court.
BACKGROUND
{2} The…
2Cases cited18 opinions
- Self v. United Parcel Service, Inc.New Mexico Supreme Court · 1998
- Fernandez v. Farmers Ins. Co. of ArizonaNew Mexico Supreme Court · 1993
- State v. NICK R.New Mexico Supreme Court · 2009
- Romero v. Dairyland InsuranceNew Mexico Supreme Court · 1990
- Schmick v. State Farm Mutual Automobile InsuranceNew Mexico Supreme Court · 1985
13 more not listed; retrieve them via the Exa API.
3Cited by8 opinions
- Starko, Inc. v. PRESBYTERIAN HEALTH PLANNew Mexico Court of Appeals · 2011
- Bhasker v. Kemper Cas. Ins. Co.District Court, D. New Mexico · 2019
- Starko, Inc. v. Presbyterian Health Plan, Inc.New Mexico Court of Appeals · 2012
- Bhasker v. Kemper Cas. Ins. Co.District Court, D. New Mexico · 2018
- Farmers Ins. Co. of Arizona v. SandovalNew Mexico Court of Appeals · 2011
3 more not listed; retrieve them via the Exa API.