Question: Patrick causes an accident while driving his car. The driver of the other car is injured and is awarded damages of $750,000. Patrick has a

Patrick causes an accident while driving his car. The driver of the other car is injured and is awarded damages of $750,000. Patrick has a Personal Auto Policy (PAP) with a bodily injury liability limit of $300,000 per person. However, it is later discovered that the amount due from Patrick's PAP insurer is uncollectible. Patrick also has an umbrella policy with a $1,000,000 limit of liability and a $1,000 self-insured retention (SIR). What amount will the umbrella insurer pay for this accident?

$449,000

$450,000

$749,000

$750,000

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