Insurance of Goods and Services

The insuree will deposit a fee in a GotchaInsure smart contract to get a compensation in case a particular event would happen. The insurer will have to put some security deposit which could be common to multiple insurees (respecting risk management rules). When an insured event happens, the insurer can validate it and compensate the insuree. If the insurer does not validate the event, a dispute resolution process would ensue. If the insuree wins the dispute resolution process, funds from the security deposit of the insurer would be transferred to the insuree. In case the security deposit is linked to multiple insurees claiming more than the deposit, a dispute resolution a dispute resolution process would also be needed to determine how those funds should be split between insurees.