DeFi insurance protocol InsurAce says it was well within its rights to reduce the claims period for people affected by the USD (UST) depeg event from 15 days to seven — but added it has already processed nearly all 173 submitted claims and will pay out $11 million.

InsurAce (INSUR), is the third most important insurance provider. Decentralized financeMarket cap: $15 million for protocols (DeFi).