A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

A

Approved

The status of a claim that has received a majority of "approved" votes by the Community Court Jury. Pool funds are used to settle approved claims.

B

Besurer

Anyone who is a member of a besure pool.

Bylaws

These are a besurer’s responsibilities towards one another that help ensure a pool's effective operation. Click here to read our Pool Bylaws.

C

Chance

The probability of an event occurring given certain conditions, expressed as a percentage.

Claim

The act of requesting financial help from one’s community pool in the aftermath of a loss being suffered.

Claim History

A summary of member claims, as well as their status.

Claim Jury

The randomly and anonymously selected group drawn from a pool’s larger Community Court jury population (that has reviewed the claim in question). The votes of these jurors are used to form the verdict. The claim jury is unique to each submitted claim. The formation of a claim jury is double-blind, meaning that the jurors themselves and the pool population will not know who its members are.

Claim Packet

Submitted by a claiming member, this is the online collection of evidence and information that is received by a juror for their vote.

Claiming Member (Claimant)

A besurer who submits a claim.

Community Court

The peer-to-peer democratic system where a volunteer jury of pool members, review and vote on claims submitted by other pool members.

Complete Phase

The classification given to a pool that has reached the end of coverage, paid its claims, and redistributed any remaining funds.

Coverage Amount

The maximum benefit to be paid on an approved claim in a given pool.

Coverage Period

The timeframe in which a given pool offers protection. Members may submit claims during this period.

Coverage Phase

If the minimum number of members is reached or surpassed by the coverage start date, the pool will launch and begin providing coverage to its members.

Coverage Start Date

Also known as the Launch date. This is the date on which the pool begins providing coverage, provided that the minimum number of members required have joined. If it does not hit the minimum, the pool will stall and coverage will not begin.

D

Denied

The status of a claim that has received a majority of "denied" votes by the Community Court Jury.

E

Evidence

What is submitted by a besurer to support a claim. The requirements section of a pool will indicate what evidence is required to be submitted when joining a pool and when making a claim.

F

G

H

I

J

Join Phase

The phase preceding the pool’s coverage start date, in which you can join and invite others to join the besure pool.

Juror

A member of a community pool that has volunteered or been appointed (in some cases) to review and vote upon claims.

K

L

Launch

Also known as the Coverage Start date. This is the date on which the pool begins providing coverage, provided that the minimum number of members required have joined. If it does not hit the minimum, the pool will stall and coverage will not begin.

M

N

O

P

Payment

The financial contribution of a besurer into a pool in order to participate in the coverage benefits of that community's risk-sharing.

Pool

The coming together of individuals who share a common passion or need to protect the same thing. It involves the gathering of finances, experiences, and unique know-how that allows each member to participate directly and cooperatively in their personal risk management (“self-insurance”).

Private Pool

A community pool that can be joined by invite only.

Processing Phase

The phase that begins immediately following the coverage period. It is during this phase that approved claims are paid to the claimants, followed by any leftover funds in the pool being redistributed back to the pool members.

Public Pool

A community pool open to any besure member, who is able to meet the pool’s joining requirements (and traits, if specified).

Q

R

Refund

After approved claims have been paid to the claimants, any remaining funds left in the pool are redistributed among the other besurers.

Remaining Funds

The funds leftover in the pool after paying all approved claims.

S

Stalled Phase

If the pool remains unfilled by the coverage start date, the pool will not launch (meaning the coverage period will never begin). If this happens, members will not be charged the contribution amount and the pool will acquire the label of Stalled.

T

U

V

Verdict

The decision of the Community Court jurors to either approve or deny a claim.

W

X

Y

Z

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