In Waggaman v. Northwestern Security Ins. Co. (1971) 16 Cal.App.3d 571, the court, at page 579, stated: " By permitting the parties to an uninsured motorist insurance policy to contract for a reduction of the loss payable 'by the amount paid and the present value of all amounts payable . . . under any workmen's compensation law . . .' (Ins. Code, 11580.2, subd. (h)), the Legislature has made plain that there shall be no double recovery under the policy and under the workmen's compensation law when the parties have so agreed."