UST was not owned prior to policy period The most recent insurance purchase was on Apr 26, and therefore the policy period began 10 days later, on May 6. Looking at the claimant's terra wallet shows that some of their UST was added after May 6. You can work backwards from their current balance to see this. As of now, May 25, their balance is 540 UST. Netting out the last few transfers, you can calculate that their UST balance was 6,550 on May 13. There are transfers of 187 UST, 436 UST, 212 UST, and 469 UST between May 7 and May 13, for a total of 5,246 UST balance at the end of May 6. The claim is for 2.95 eth, which is worth more than $5,246 (even if UST was worthless now, which it isn't), so this claim is invalid and must be rejected.