3.5.2 Amount of Available Fund Compensation

• Jurisdiction: Arizona

The maximum compensation available for the Fund is $99,900 per "covered claim."^[266] However, where the face amount of the insolvent carrier's policy limits are less than $99,900, the Fund's obligation will not exceed the lesser limits of the insolvent carrier's policy.^[267]

A "covered claim" is one that would be covered by the insolvent carrier's policy.^[268] The Fund is "liable, if at all, only to the extent that the insolvent [carrier] would have been under its policy."^[269] Therefore, the insolvent carrier's policy must be analyzed to determine whether the Fund will be involved in the claim.^[270]

When statutory beneficiaries bring a claim for wrongful death, the...