Nexus Mutual and Kraken’s Firelight Differ on Cover Limits and Claims
Edited by Steinar Vigdel Kolnes, Editor, Oslo
Kraken’s Firelight arrangement limits cover per depositor address, while direct Nexus Mutual buyers select their coverage amount and submit claims themselves.
Kraken’s Firelight arrangement and coverage bought directly from Nexus Mutual differ in their limits and claims responsibilities, according to The Defiant.
Under the Firelight arrangement, coverage is capped at $100,000 for each depositor address per coverage period. The limit is therefore tied to an address and a defined period.
Buyers who obtain coverage directly from Nexus Mutual choose the amount of protection they purchase. They are also responsible for filing their own claims.
The supplied report excerpt does not specify who files claims under Firelight or how payouts are distributed through that arrangement.
Source: The Defiant
