@f74195j26
How do claim processes work after a slash?
The claims process varies by insurer type but generally follows these steps:
Trigger: The slashing event is recorded on-chain.
Notification: The operator (or a watchtower bot) files a claim with the insurance protocol, referencing the transaction.
Verification (For Indemnity Insurance): For non-parametric products, the insurer's claims assessors (either a decentralized council or a DAO) verify the claim. This involves checking that the policy was active and that the slash is a covered event (e.g., not excluded due to gross negligence).
Voting/Approval: In decentralized models, token holders or a specialized council may vote to approve or deny the claim based on the policy terms.
Payout: Once approved, funds are released from the insurance pool to the operator. Parametric insurance automates steps 3 and 4, relying solely on the on-chain trigger.
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