Claims History
Because Nexus Mutual is a discretionary mutual, the cover products members purchase are not the same as traditional insurance policies. When a member who holds cover suffers a material loss, they can submit their claim and go through the Claims Assessment process. Members who have staked NXM can participate as claims assessors. Claims assessors review submitted claims, discuss claims, and vote on whether or not to accept claims.
Ultimately, these votes are decided by members who stake NXM. There is usually a community discussion in our Discord server where members share their expertise on an event and share information.
For stats on claims check out the Nexus Mutual tracker and the Claims section in the Nexus Mutual user interface. Lots of claims have been submitted by users testing the system. Below is the Claims History presented in greater detail. In the following sections, we outline past claims events and review the claim outcomes.
Members of the mutual have paid out more than $9.34m to cover holders who suffered a loss due to past exploits, technical failures, and halted withdrawals on a centralized custodian.
Year | Total Claims Paid (in USD) |
|---|---|
2020 | $34.7k |
2021 | $2.70m |
2022 | $6.60m |
Total | $9.34m |
Last modified 14d ago