Nexus Mutual is a decentralised alternative to insurance.
It's first product will be Smart Contract Cover which allows businesses and individuals to be covered against potential bugs in smart contract code. You can be covered for events like The DAO hack or Parity multi-sig wallet issues receiving a fixed pay-out if something goes wrong.
Fellow members will decide on claims. Claim payments will be enforced by token driven economic incentives rather than placing trust in an insurance company.