DeFi Insurance Claims Paid Out Enormous Amounts in 2022: Report
OpenCover's latest report reveals that since inception and up until the beginning of 2021, DeFi insurance claims paid out $34.4M, with ninety percent of those payouts occurring in 2022.
Ninety percent of all DeFi insurance claims paid out since inception were distributed in 2022, according to a report by OpenCover published on March 18.
The report reveals that since the inception of DeFi insurance in early 2020 and up until the beginning of 2021, claims payouts amounted to $34.4 million.
The findings from OpenCover report indicate a rapid growth in the DeFi insurance segment, with a majority of the payouts being invoked in the past year. Moreover, the report observes that in 2021 alone, covered claims paid out exceeded $20 million.
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