# kaal:claim:3406323-026

**Claim.** Legacy insurers will not underwrite smart contracts that sit outside the traditional legal framework, and even if they eventually enter the DApp market their actuarial risk assessment methods may be only partially compatible with rapidly evolving decentralized products.

**Type.** failure  **Support.** argued

**Holds when.**

- legacy insurance companies facing smart contract risk

**Source quote.**

> Most legacy insurance companies will not consider underwriting a smart contract that is not subject to the traditional legal framework.

**From.** Wulf A. Kaal, *Decentralization - A Primer on the New Economy* (2019), VI. Evolution, page 14

**Cite as.** Wulf A. Kaal, Decentralization - A Primer on the New Economy (2019). SSRN: https://ssrn.com/abstract=3406323

**Verify.** sha256 of source PDF `6293780b57a1ae1de17ec00f99cc94295d4f72ea4d08b17a5c08c44772b221db` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202019%20-%20Decentralization%20-%20A%20Primer%20on%20the%20New%20Economy.pdf

**Failure mode.** legacy-underwriting-mismatch  (family: legal-personality-and-liability-gap)

**Topics.** institutional-design, smart-contracts, research-methods

**Keywords.** insurance, legacy-institutions, smart-contracts, actuarial-methods

**Related claims.**

- restated_by: https://wulfkaal.github.io/claims/3411897-031
- restated_by: https://wulfkaal.github.io/claims/3411897-030

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.