Claims History
Because Nexus Mutual is a discretionary mutual, the cover products members purchase are not the same as traditional insurance policies. When one of our members has cover and suffers a material loss, they can submit their claim and go through the Claims Assessment process.
Once a claim is submitted, the Claim Committee reviews the claim details, helps claimants calculate their claim amount, discusses claims to determine if they are valid and meet the terms outlined in the cover wording, and votes to accept or deny a claim based on its validity.
There will be a discussion on the validity of a claim on the Nexus Mutual governance forum, where the Claims Committee will share a summary of each claim filed along with a discussion and assessment of the claim.
Claims Paid to Date
Members of the Mutual have paid out $18M+ to cover holders who suffered a loss due to past exploits, technical failures, and halted withdrawals on centralized custodians.
| Year | Total Claims Paid (in USD) |
|---|---|
| 2020 | $33,720.10 |
| 2021 | $2,716,958.11 |
| 2022 | $6,615,394.75 |
| 2023 | $8,883,212.99 |
| 2024 | $6,895.07 |
| 2025 | $245,957.29 |
| Total | $18,502,138.31 |
Auditing, Reviewing Past Claims
For stats on claims, you can review:
- The Mutual's claims history on the Nexus Mutual DAO website, where you will find the summary, outcome, and other information about each claim request that has been filed.
- The Claims Dune dashboard.
- The claims section in the Nexus Mutual user interface. Numerous claims have been submitted by users testing the system in the first two years after the Mutual launched.
In the following sections, we outline past claims events and review claim outcomes.