Making a claim
If a user wants to make a claim, they need to deposit 1% of the claim’s value in BMI - this is to prevent frivolous claims from being spammed.
  • If the claim is determined to be valid, USDT is issued to the Claimant
  • If a claim is denied, the Claimant may Appeal by depositing an additional 1% of the claim’s value in BMI.

Where do I make a claim?

Head over to​

When can I make a claim?

Up to seven days after the expiration of the policy. If the Claim is rejected, you have an additional seven days from the date of the rejection to make an Appeal.
For a claim to be valid, the Coverage Event must have happened before the end of the last epoch (read more on epochs in our Whitepaper). Otherwise, the Claim should be rejected.
While a Claim is actively being voted on, you cannot purchase additional Coverage against that same Coverage Pool.

How is the outcome of the claim determined?

Via voting. This is explained in more detail in the next section.​

How long does it take for my claim to be reviewed?

Voting on claims lasts for a minimum of 2 weeks. After this period is over, anyone can trigger the resolution of the claim (explained in more detail in the next section). Until the claim is resolved, voting on the claim can continue.

How is the outcome of the vote shown?

The outcome of a Claim must be pulled from the smart contracts in order to be revealed. To avoid situations where the result of a Claim is never pulled by the Claimant themselves, we designed a model that allows anyone to pull and reveal the outcomes of Claims. The user that pulls and reveals the Claim receives an award.