Proof of Loss

Proof of loss is a critical component of our insurance coverage process. In the event of an insured loss, we require proof of loss to be submitted before claims are processed. There are different types of proof that can be submitted, including signature proof and transaction proof.

Signature Proof

To submit a signature proof, the user must sign a message with the affected address and provide the following message: Sentrafy proof of loss for cover ID <coverId>". The signed message is then updated in the evidence file.

Transaction Proof

A transaction proof can be submitted in the event of a hack or rug pull. The transaction hash and block number must be provided, along with other relevant information about the loss.

When composing and submitting a proof of loss, the following information must be included:

• Name of the project that suffered the loss

• Timeline of when the loss occurred

• The amount of the loss

• The affected address that was impacted

• The cover ID that identifies the cover for which the claim will be filed

For example, a proof of loss could look like this: Name: "scamtoken" Timeline: 13/11/2024 Loss: $854.50 Affected Address: “0xTxFromAffectedCustodialWalletAddress” Cover ID: 5000

Once a proof of loss has been submitted and verified, our claims assessors will review the evidence and process the claim. If the claim is approved, the user will receive compensation in the currency in which they paid for their coverage.