Decentralized finance (DeFi) has been rapidly transforming the traditional financial system, providing innovative and decentralized alternatives to traditional financial products and services. Insurance is no exception. DeFi protocols offer a promising avenue for creating new types of risk management products, which can be more transparent, efficient, and accessible to a wider range of people. In this article, we explore the potential of DeFi insurance, the challenges it faces, and the emergence of Deri Protocol as a promising solution.