Of the claims I've observed, the insurance company attorney's always push for a stipulation to settle within policy limits. My observation has been when there is usually more than one plaintiff, and there are substantial injuries, the insurance company will ultimately offer up policy limits and tell them "you figure out how to divide it."
Keep in mind that $1,000,000 plus whatever you carry on the car or house liability adds up to a lot of money, especially when defense costs do not erode that limit of coverage.
helpful TY