Betancourt v. Arizona Property & Casualty Insurance Fund

OPINION

GERBER, Judge.

The primary issue in this appeal is whether the Arizona Property & Casualty Insurance Fund (the Fund) is bound by a settlement agreement reached between an insolvent insurer and a third party prior to the insurer’s insolvency. Secondary issues concern the award of attorneys’ fees.

FACTS AND PROCEDURAL HISTORY

For purposes of appeal, the facts are undisputed. Appellee Esther Betancourt and Lori Ogles were involved in an automobile accident on May 6, 1986. At the time of the accident, Ogles was insured by American Excel Insurance Company, with liability limits of $15,000 per…