InsurAce says it will pay millions to claimants after Terra’s collapse

2022.05.27 11:31

InsurAce says it will pay millions to claimants after Terra’s collapse

DeFi insurance protocol InsurAce says it was well within its rights to reduce the claims period for people affected by the Terra USD (UST) depeg event from 15 days to seven — but added it has already processed nearly all 173 submitted claims and will pay out $11 million.

InsurAce (INSUR) is the third largest insurance provider for decentralized finance (DeFi) protocols, with a market cap of $15 million.

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