This is really a huge out.
If the charges are dropped after $100K in legal fees and investigators show you were clearly innocent - no payment since there is no not-guilty verdict.
If charges are never brought, but you need to hire quality representation during the investigation and time when the other party's family is demanding the state extract revenge upon you - no payment.
If you cop a plea (yeah, I know everyone "would stand up for what is right" - but things look quite different when you attorney says "you can take this no prison time deal or refresh my retainer, go to trial, and risk a lengthy prison term - and points out examples like that guy in FL who turned down a "felony plea bargain" with probation and got a 20 year stretch), there is no payment.
Cases most often are either dropped or pled out - and the insurance company knows they are offering the equivalent of one of those life insurance policies that covers you only if you get cancer of the left testicle.