News/InsurAce Says It Will Pay Millions to Claimants After Terra's Collapse

InsurAce Says It Will Pay Millions to Claimants After Terra's Collapse

May 26,2022,15:46
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 $11 million. On May 13, InsurAce announced it had shortened the claims window for those with cover related to Anchor ($ANC), Mirror ($MIR), and stablecoin Terra USD ($UST) following the collapse of the Terra ($LUNA).
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