Smart Contract Vulnerability Cover
The summary and link to the full terms and conditions can be found here: Smart Contract Vulnerability Cover Wording V1.0.
Claims Process
Pramb prioritizes fair and transparent claims assessment. Our process involves an investigation by the Pramb team, followed by a quantitative evaluation.
Group Claim Process (Multiple Policyholders Affected)
Claim Submission: Upon notification of a potential claimable event, the Pramb team investigates and verifies the event. If confirmed, an announcement is made through Pramb's official channels.
Policyholders must submit claims within 21 days of the announcement or 15 days after the coverage period ends, whichever comes first.
A fee of 0.5% of the claimed amount is required upon submission.
Claims for previously rejected events are automatically invalidated.
Proof of Loss and Ownership must be submitted within seven days of claim submission.
Investigation: The Pramb team conducts a thorough investigation and prepares a Claim Investigation Report with findings, conclusions, and a proposed payout.
Individual Appeal: If the claim is determined by the Pramb team, claimants have 72 hours to file an appeal with a 0.5% fee. The Pramb team has sole discretion in making the final decision on the appeal.
Payout: If the claim is approved, payouts are made based on the investigation report or the appeal decision. Pramb is not responsible for any market fluctuations affecting the value of payouts.
Individual Claim Process (Single Policyholder Affected)
Claim Submission:
The claim must be submitted within 15 days after the coverage period ends.
A fee of 0.5% of the claimed amount is required upon submission.
Claims for previously rejected events are automatically invalidated.
Proof of Loss and Ownership must be submitted within seven days of claim submission.
Investigation:
Upon receiving a valid claim, the Pramb team investigates and verifies the claim based on the provided evidence.
The Pramb team prepares a Claim Investigation Report with findings, conclusions, and a proposed payout.
Appeal:
If the claim is determined by the Pramb team, the claimant has 72 hours to file an appeal with a 0.5% fee.
The Pramb team has sole discretion in making the final decision on the appeal.
Payout:
If the claim is approved, the payout is made according to the investigation report or the appeal decision.
Pramb is not responsible for any market fluctuations affecting the value of payouts.
Amendments
Pramb will use commercially reasonable efforts to communicate any material amendments of the Terms through Pramb’s social media accounts and/or channels as set out on this platform but in any case, it is your responsibility to check for the latest version of the terms and conditions before purchasing the Cover or continuing with your use of the Cover. Please note that continued use of the Cover after such amendments is deemed as agreeing to the amended terms and to be bound by them.
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