Who may benefit from the Arizona Insurance Guaranty Fund aside from policyholders?

The Arizona Insurance Guaranty Fund is designed to protect policyholders and other beneficiaries in the event that an insurance company becomes insolvent and cannot fulfill its contractual obligations. In addition to policyholders, third-party claimants and creditors can also benefit from this fund.

Third-party claimants include individuals or entities that have claims against the insured for damages caused by the insured party. If an insurance company is unable to pay those claims due to insolvency, the Guaranty Fund steps in to ensure that those claims are still honored up to certain limits established by law. This helps maintain a degree of financial stability and assurance within the insurance market, ensuring that individuals who have legitimate claims can receive compensation even in the event of an insurer's failure.

The other choices provided do not align with the purpose of the Guaranty Fund. Insurance agents and brokers are not considered beneficiaries under such a fund, as they do not possess direct claims against the insurance company. Similarly, while insurance companies undergoing audits are part of the broader insurance marketplace, they do not benefit from the Guaranty Fund in cases of insolvency. Therefore, third-party claimants and creditors are indeed the correct beneficiaries aside from policyholders.