Etherisc

Etherisc is a decentralized insurance protocol launched in Munich in 2016 that provides a general insurance framework on Ethereum and Gnosis Chain: product templates, risk pools and policy issuance all run in smart contracts, and developers can fork templates to launch their own covers and take a premium share. Its flagship FlightDelay product is parametric flight-delay insurance that pays automatically once a delay passes 45 minutes, with claims decided by Chainlink oracles aggregating multi-source flight data and no manual filing; DIP holders stake into the risk pool as underwriting collateral.

Mechanically it compresses pricing, underwriting and claims into contract logic: a sold policy is a completed price, an oracle feed triggers payout, risk-pool capacity caps how many policies can be sold, and staking returns tie directly to underwriting profit and loss. FlightDelay covers more than 80 airlines worldwide and settles in USDC, an early case of parametric insurance landing on-chain. Its flight-delay app currently shows the risk pool exhausted and new policies paused; on June 16, 2026 the DIP token contract was attacked through a missing return statement in its _transfer function, with the attacker exploiting PancakeSwap's skim/sync to imbalance reserves and manipulate price, draining roughly 111 thousand US dollars that was never recovered.