@etherisc/gif-next 3.0.0-1b49bd6-565 → 3.0.0-1c2086e-623

package/contracts/examples/flight/FlightProduct.sol

@@ -6,10 +6,11 @@ import {IERC20Metadata} from "@openzeppelin/contracts/token/ERC20/extensions/IER
 
 import {IAuthorization} from "../../authorization/IAuthorization.sol";
 import {IComponents} from "../../instance/module/IComponents.sol";
+import {IPolicy} from "../../instance/module/IPolicy.sol";
 
 import {Amount, AmountLib} from "../../type/Amount.sol";
-import {BasicProduct} from "../../product/BasicProduct.sol";
 import {ClaimId} from "../../type/ClaimId.sol";
+import {Component} from "../../shared/Component.sol";
 import {FeeLib} from "../../type/Fee.sol";
 import {FlightLib} from "./FlightLib.sol";
 import {FlightMessageVerifier} from "./FlightMessageVerifier.sol";
@@ -17,109 +18,89 @@ import {FlightOracle} from "./FlightOracle.sol";
 import {InstanceReader} from "../../instance/InstanceReader.sol";
 import {NftId, NftIdLib} from "../../type/NftId.sol";
 import {PayoutId} from "../../type/PayoutId.sol";
+import {Product} from "../../product/Product.sol";
 import {ReferralLib} from "../../type/Referral.sol";
 import {RiskId, RiskIdLib} from "../../type/RiskId.sol";
 import {RequestId} from "../../type/RequestId.sol";
 import {Seconds, SecondsLib} from "../../type/Seconds.sol";
-import {Str} from "../../type/String.sol";
+import {Str, StrLib} from "../../type/String.sol";
 import {Timestamp, TimestampLib} from "../../type/Timestamp.sol";
 
 
 /// @dev FlightProduct implements the flight delay product.
 contract FlightProduct is
-    BasicProduct
+    Product
 {
 
-    event LogRequestFlightRatings(uint256 requestId, bytes32 carrierFlightNumber, uint256 departureTime, uint256 arrivalTime, bytes32 riskId);
-    event LogRequestFlightStatus(uint256 requestId, uint256 arrivalTime, bytes32 carrierFlightNumber, bytes32 departureYearMonthDay);
-    event LogPayoutTransferred(bytes32 bpKey, uint256 claimId, uint256 payoutId, uint256 amount);
-    event LogFlightStatusProcessed(RequestId requestId, RiskId riskId, bytes1 status, int256 delayMinutes, uint8 payoutOption);
-
-    // TODO convert error logs to custom errors
-    event LogError(string error, uint256 index, uint256 stored, uint256 calculated);
-    event LogPolicyExpired(bytes32 bpKey);
+    event LogFlightPolicyPurchased(NftId policyNftId, string flightData, Amount premiumAmount);
+    event LogFlightPolicyClosed(NftId policyNftId, Amount payoutAmount);
 
-    event LogErrorRiskInvalid(RequestId requestId, RiskId riskId);
-    event LogErrorUnprocessableStatus(RequestId requestId, RiskId riskId, bytes1 status);
-    event LogErrorUnexpectedStatus(RequestId requestId, RiskId riskId, bytes1 status, int256 delayMinutes);
-
-    error ErrorApplicationDataSignatureMismatch(address expectedSigner, address actualSigner);
-    error ErrorFlightProductClusterRisk(Amount totalSumInsured, Amount maxTotalPayout);
-    error ErrorFlightProductPremiumAmountTooSmall(Amount premiumAmount, Amount minPremium);
-    error ErrorFlightProductPremiumAmountTooLarge(Amount premiumAmount, Amount maxPremium);
-    error ErrorFlightProductArrivalBeforeDepartureTime(Timestamp departureTime, Timestamp arrivalTime);
-    error ErrorFlightProductArrivalAfterMaxFlightDuration(Timestamp arrivalTime, Timestamp maxArrivalTime, Seconds maxDuration);
-    error ErrorFlightProductDepartureBeforeMinTimeBeforeDeparture(Timestamp departureTime, Timestamp now, Seconds minTimeBeforeDeparture);
-    error ErrorFlightProductDepartureAfterMaxTimeBeforeDeparture(Timestamp departureTime, Timestamp now, Seconds maxTimeBeforeDeparture);
-    error ErrorFlightProductNotEnoughObservations(uint256 observations, uint256 minObservations);
+    event LogFlightStatusProcessed(RequestId requestId, RiskId riskId, bytes1 status, int256 delayMinutes, uint8 payoutOption);
+    event LogFlightPoliciesProcessed(RiskId riskId, uint8 payoutOption, uint256 policiesProcessed, uint256 policiesRemaining);
 
     // solhint-disable
-    // Minimum observations for valid prediction
-    uint256 public immutable MIN_OBSERVATIONS = 10;
+    Amount public MIN_PREMIUM;
+    Amount public MAX_PREMIUM;
+    Amount public MAX_PAYOUT;
+    Amount public MAX_TOTAL_PAYOUT; // Maximum risk per flight/risk
+
     // Minimum time before departure for applying
-    Seconds public MIN_TIME_BEFORE_DEPARTURE = SecondsLib.fromDays(14);
+    Seconds public MIN_TIME_BEFORE_DEPARTURE;
     // Maximum time before departure for applying
-    Seconds public MAX_TIME_BEFORE_DEPARTURE = SecondsLib.fromDays(90);
+    Seconds public MAX_TIME_BEFORE_DEPARTURE;
     // Maximum duration of flight
-    Seconds public MAX_FLIGHT_DURATION = SecondsLib.fromDays(2);
-    // Check for delay after .. minutes after scheduled arrival
-    Seconds public CHECK_OFFSET = SecondsLib.fromHours(1);
+    Seconds public MAX_FLIGHT_DURATION;
     // Max time to process claims after departure
-    Seconds public LIFETIME = SecondsLib.fromDays(30);
-
-    // uint256 public constant MIN_PREMIUM = 15 * 10 ** 18; // production
-    // All amounts in cent = multiplier is 10 ** 16!
-    Amount public MIN_PREMIUM;
-    Amount public MAX_PREMIUM;
-    Amount public MAX_PAYOUT;
-    Amount public MAX_TOTAL_PAYOUT; // Maximum risk per flight is 3x max payout.
+    Seconds public LIFETIME;
 
+    // ['observations','late15','late30','late45','cancelled','diverted']
+    // no payouts for delays of 30' or less
+    uint8[6] public WEIGHT_PATTERN;
+    // Minimum number of observations for valid prediction/premium calculation
+    uint256 public MIN_OBSERVATIONS;
     // Maximum cumulated weighted premium per risk
-    uint256 public MARGIN_PERCENT = 30;
-
+    uint256 public MARGIN_PERCENT;
     // Maximum number of policies to process in one callback
-    uint8 public MAX_POLICIES_TO_PROCESS = 5;
+    uint8 public MAX_POLICIES_TO_PROCESS;
+    // solhint-enable
 
-    // ['observations','late15','late30','late45','cancelled','diverted']
-    // no payouts for delays of 30' or less
-    uint8[6] public WEIGHT_PATTERN = [0, 0, 0, 30, 50, 50];
-    uint8 public constant MAX_WEIGHT = 50;
+    bool internal _testMode;
+
+    mapping(RiskId riskId => RequestId requestId) internal _requests;
+    mapping(bytes32 encodedRisk => RiskId) internal _risks;
 
     // GIF V3 specifics
     NftId internal _defaultBundleNftId;
-
-    // TODO add product (base contract) functions
-    // - getOracleNftId(idx)
-    // - getDistributionNftId() 
-    // - getPoolNftId()
-    NftId internal _oracleNftId; // TODO refactor to getOracleNftId(0)
-    // solhint-enable
-
-    FlightMessageVerifier internal _flightMessageVerifier;
+    NftId internal _oracleNftId;
 
 
     struct FlightRisk {
         Str flightData; // example: "LX 180 ZRH BKK 20241104"
         Timestamp departureTime;
+        // this field contains static data required by the frontend and is not directly used by the product
+        string departureTimeLocal; // example "2024-10-14T10:10:00.000 Asia/Seoul"
         Timestamp arrivalTime; 
+        // this field contains static data required by the frontend and is not directly used by the product
+        string arrivalTimeLocal; // example "2024-10-14T10:10:00.000 Asia/Seoul"
         Amount sumOfSumInsuredAmounts;
-        // uint256 premiumMultiplier; // what is this? UFixed?
-        // uint256 weight; // what is this? UFixed?
         bytes1 status; // 'L'ate, 'C'ancelled, 'D'iverted, ...
         int256 delayMinutes;
+        uint8 payoutOption;
+        Timestamp statusUpdatedAt;
     }
 
+
     struct ApplicationData {
-        Str flightData;
+        string flightData;
         Timestamp departureTime;
+        string departureTimeLocal;
         Timestamp arrivalTime;
+        string arrivalTimeLocal;
         Amount premiumAmount;
         uint256[6] statistics;
-        uint8 v;
-        bytes32 r; 
-        bytes32 s;
     }
 
+
     struct PermitData {
         address owner;
         address spender;
@@ -132,23 +113,23 @@ contract FlightProduct is
 
 
     constructor(
-        NftId instanceNftid,
+        address registry,
+        NftId instanceNftId,
         string memory componentName,
-        IAuthorization authorization,
-        FlightMessageVerifier messageVerifier
+        IAuthorization authorization
     )
     {
         address initialOwner = msg.sender;
 
         _initialize(
-            instanceNftid,
+            registry,
+            instanceNftId,
             componentName,
             authorization,
             initialOwner);
-
-        _flightMessageVerifier = messageVerifier;
     }
 
+
     //--- external functions ------------------------------------------------//
     //--- unpermissioned functions ------------------------------------------//
 
@@ -159,6 +140,7 @@ contract FlightProduct is
             getNftId()).oracleNftId[0];
     }
 
+
     function calculatePayoutAmounts(
         FlightProduct flightProduct,
         Amount premium, 
@@ -195,30 +177,156 @@ contract FlightProduct is
         )
     {
         // process permit data
-        processPermit(permit);
+        _processPermit(permit);
 
         // create policy
         address policyHolder = permit.owner;
         (
             riskId,
             policyNftId
-        ) = createPolicy(
+        ) = _createPolicy(
             policyHolder,
-            application.flightData,
+            StrLib.toStr(application.flightData),
             application.departureTime,
+            application.departureTimeLocal,
             application.arrivalTime,
+            application.arrivalTimeLocal,
             application.premiumAmount,
             application.statistics);
-            // application.v,
-            // application.r,
-            // application.s);
     }
 
 
-    function processPermit(
-        PermitData memory permit
+    /// @dev Callback for flight status oracle.
+    /// Function may only be alled by oracle service.
+    function flightStatusCallback(
+        RequestId requestId,
+        bytes memory responseData
+    )
+        external
+        virtual
+        restricted()
+    {
+        FlightOracle.FlightStatusResponse memory response = abi.decode(
+            responseData, (FlightOracle.FlightStatusResponse));
+
+        _processFlightStatus(
+            requestId, 
+            response.riskId, 
+            response.status, 
+            response.delayMinutes);
+    }
+
+
+    function resendResponse(RequestId requestId)
+        external
+        virtual
+        restricted()
+    {
+        _resendResponse(requestId);
+    }
+
+
+    /// @dev Manual fallback function for product owner.
+    function processPayoutsAndClosePolicies(
+        RiskId riskId, 
+        uint8 maxPoliciesToProcess
+    )
+        external
+        virtual
+        restricted()
+        onlyOwner()
+    {
+        _processPayoutsAndClosePolicies(
+            riskId, 
+            maxPoliciesToProcess);
+    }
+
+
+    //--- owner functions ---------------------------------------------------//
+
+    /// @dev Call after product registration with the instance
+    /// when the product token/tokenhandler is available
+    function setConstants(
+        Amount minPremium,
+        Amount maxPremium,
+        Amount maxPayout,
+        Amount maxTotalPayout,
+        Seconds minTimeBeforeDeparture,
+        Seconds maxTimeBeforeDeparture,
+        uint8 maxPoliciesToProcess
+    )
+        external
+        virtual
+        restricted()
+        onlyOwner()
+    {
+        MIN_PREMIUM = minPremium; 
+        MAX_PREMIUM = maxPremium; 
+        MAX_PAYOUT = maxPayout; 
+        MAX_TOTAL_PAYOUT = maxTotalPayout;
+
+        MIN_TIME_BEFORE_DEPARTURE = minTimeBeforeDeparture;
+        MAX_TIME_BEFORE_DEPARTURE = maxTimeBeforeDeparture;
+        MAX_POLICIES_TO_PROCESS = maxPoliciesToProcess;
+    }
+
+    function setDefaultBundle(NftId bundleNftId) external restricted() onlyOwner() { _defaultBundleNftId = bundleNftId; }
+    function setTestMode(bool testMode) external restricted() onlyOwner() { _testMode = testMode; }
+
+    function approveTokenHandler(IERC20Metadata token, Amount amount) external restricted() onlyOwner() { _approveTokenHandler(token, amount); }
+    function setLocked(bool locked) external onlyOwner() { _setLocked(locked); }
+    function setWallet(address newWallet) external restricted() onlyOwner() { _setWallet(newWallet); }
+
+
+    //--- view functions ----------------------------------------------------//
+
+    function calculateNetPremium(
+        Amount, // sumInsuredAmount: not used in this product
+        RiskId, // riskId: not used in this product
+        Seconds, // lifetime: not used in this product, a flight is a one time risk
+        bytes memory applicationData // holds the premium amount the customer is willing to pay
+    )
+        external
+        virtual override
+        view 
+        returns (Amount netPremiumAmount)
+    {
+        (netPremiumAmount, ) = abi.decode(applicationData, (Amount, Amount[5]));
+    }
+
+
+    function getOracleNftId() public view returns (NftId oracleNftId) { return _oracleNftId; }
+    function isTestMode() public view returns (bool) { return _testMode; }
+
+
+    function getFlightRisk(
+        RiskId riskId,
+        bool requireRiskExists
     )
         public
+        view
+        returns (
+            bool exists,
+            FlightRisk memory flightRisk
+        )
+    {
+        (exists, flightRisk) = FlightLib.getFlightRisk(
+            _getInstanceReader(), 
+            getNftId(), 
+            riskId, 
+            requireRiskExists);
+    }
+
+    function getRequestForRisk(RiskId riskId) public view returns (RequestId requestId) { return _requests[riskId]; }
+    function decodeFlightRiskData(bytes memory data) public pure returns (FlightRisk memory) { return abi.decode(data, (FlightRisk)); }
+
+    //--- internal functions ------------------------------------------------//
+
+
+    function _processPermit(
+        PermitData memory permit
+    )
+        internal
         virtual
         restricted()
     {
@@ -236,21 +344,18 @@ contract FlightProduct is
     }
 
 
-    function createPolicy(
+    function _createPolicy(
         address policyHolder,
         Str flightData, 
         Timestamp departureTime,
+        string memory departureTimeLocal,
         Timestamp arrivalTime,
+        string memory arrivalTimeLocal,
         Amount premiumAmount,
         uint256[6] memory statistics
-        // signature fields
-        // uint8 v, 
-        // bytes32 r, 
-        // bytes32 s
     )
-        public
+        internal
         virtual
-        restricted()
         returns (
             RiskId riskId,
             NftId policyNftId
@@ -258,20 +363,20 @@ contract FlightProduct is
     {
         // checks
         // disabled for now - using rbac for security
-        FlightLib.checkApplicationDataAndSignature(
+        FlightLib.checkApplicationData(
             this,
             flightData,
             departureTime,
             arrivalTime,
-            premiumAmount,
-            statistics);
-            // v, r, s);
+            premiumAmount);
 
         (riskId, policyNftId) = _prepareApplication(
             policyHolder, 
             flightData,
             departureTime,
+            departureTimeLocal,
             arrivalTime,
+            arrivalTimeLocal,
             premiumAmount,
             statistics);
 
@@ -285,17 +390,21 @@ contract FlightProduct is
             policyNftId, 
             departureTime); // activate at scheduled departure time of flight
 
-        // send oracle request for flight status (interacts with flight oracle contract)
-        _sendRequest(
-            _oracleNftId, 
-            abi.encode(
-                FlightOracle.FlightStatusRequest(
-                    riskId,
-                    flightData,
-                    departureTime)),
-            // allow up to 30 days to process the claim
-            arrivalTime.addSeconds(SecondsLib.fromDays(30)), 
-            "flightStatusCallback");
+        // send oracle request for for new risk to obtain flight status (interacts with flight oracle contract)
+        if (_requests[riskId].eqz()) {
+            _requests[riskId] = _sendRequest(
+                _oracleNftId, 
+                abi.encode(
+                    FlightOracle.FlightStatusRequest(
+                        riskId,
+                        flightData,
+                        departureTime)),
+                // allow up to 30 days to process the claim
+                arrivalTime.addSeconds(SecondsLib.fromDays(30)), 
+                "flightStatusCallback");
+        }
+
+        emit LogFlightPolicyPurchased(policyNftId, flightData.toString(), premiumAmount);
     }
 
 
@@ -303,7 +412,9 @@ contract FlightProduct is
         address policyHolder,
         Str flightData, 
         Timestamp departureTime,
+        string memory departureTimeLocal,
         Timestamp arrivalTime,
+        string memory arrivalTimeLocal,
         Amount premiumAmount,
         uint256[6] memory statistics
     )
@@ -324,7 +435,9 @@ contract FlightProduct is
         ) = _createRiskAndPayoutAmounts(
             flightData,
             departureTime,
+            departureTimeLocal,
             arrivalTime,
+            arrivalTimeLocal,
             premiumAmount,
             statistics);
 
@@ -342,120 +455,12 @@ contract FlightProduct is
     }
 
 
-    /// @dev Callback for flight status oracle.
-    /// Function may only be alled by oracle service.
-    function flightStatusCallback(
-        RequestId requestId,
-        bytes memory responseData
-    )
-        external
-        virtual
-        restricted()
-    {
-        FlightOracle.FlightStatusResponse memory response = abi.decode(
-            responseData, (FlightOracle.FlightStatusResponse));
-
-        _processFlightStatus(
-            requestId, 
-            response.riskId, 
-            response.status, 
-            response.delayMinutes, 
-            MAX_POLICIES_TO_PROCESS);
-    }
-
-
-    /// @dev Manual fallback function for product owner.
-    function processFlightStatus(
-        RequestId requestId,
-        RiskId riskId, 
-        bytes1 status, 
-        int256 delayMinutes,
-        uint8 maxPoliciesToProcess
-    )
-        external
-        virtual
-        restricted()
-        onlyOwner()
-    {
-        _processFlightStatus(
-            requestId, 
-            riskId, 
-            status, 
-            delayMinutes, 
-            maxPoliciesToProcess);
-    }    
-
-    //--- owner functions ---------------------------------------------------//
-
-    /// @dev Call after product registration with the instance, when the product token/tokenhandler is available
-    function completeSetup()
-        external
-        virtual
-        restricted()
-        onlyOwner()
-    {
-        IERC20Metadata token = IERC20Metadata(getToken());
-        uint256 tokenMultiplier = 10 ** token.decimals();
-
-        MIN_PREMIUM = AmountLib.toAmount(15 * tokenMultiplier); 
-        MAX_PREMIUM = AmountLib.toAmount(200 * tokenMultiplier); 
-        MAX_PAYOUT = AmountLib.toAmount(500 * tokenMultiplier); 
-        MAX_TOTAL_PAYOUT = AmountLib.toAmount(3 * MAX_PAYOUT.toInt());
-    }
-
-
-    function setDefaultBundle(NftId bundleNftId) external restricted() onlyOwner() { _defaultBundleNftId = bundleNftId; }
-    function approveTokenHandler(IERC20Metadata token, Amount amount) external restricted() onlyOwner() { _approveTokenHandler(token, amount); }
-    function setLocked(bool locked) external onlyOwner() { _setLocked(locked); }
-    function setWallet(address newWallet) external restricted() onlyOwner() { _setWallet(newWallet); }
-
-
-    //--- view functions ----------------------------------------------------//
-
-
-    function calculateNetPremium(
-        Amount, // sumInsuredAmount: not used in this product
-        RiskId, // riskId: not used in this product
-        Seconds, // lifetime: not used in this product, a flight is a one time risk
-        bytes memory applicationData // holds the premium amount the customer is willing to pay
-    )
-        external
-        virtual override
-        view 
-        returns (Amount netPremiumAmount)
-    {
-        (netPremiumAmount, ) = abi.decode(applicationData, (Amount, Amount[5]));
-    }
-
-
-    function getFlightMessageVerifier()
-        external
-        view
-        returns (FlightMessageVerifier)
-    {
-        return _flightMessageVerifier;
-    }
-
-
-    function getOracleNftId()
-        public
-        view
-        returns (NftId oracleNftId)
-    { 
-        return _oracleNftId;
-    }
-
-    function decodeFlightRiskData(bytes memory data) external pure returns (FlightRisk memory) {
-        return abi.decode(data, (FlightRisk));
-    }
-
-    //--- internal functions ------------------------------------------------//
-
-
     function _createRiskAndPayoutAmounts(
         Str flightData, 
         Timestamp departureTime,
+        string memory departureTimeLocal,
         Timestamp arrivalTime,
+        string memory arrivalTimeLocal,
         Amount premiumAmount,
         uint256[6] memory statistics
     )
@@ -481,7 +486,9 @@ contract FlightProduct is
         riskId = _checkAndUpdateFlightRisk(
             flightData,
             departureTime,
+            departureTimeLocal,
             arrivalTime,
+            arrivalTimeLocal,
             sumInsuredAmount,
             weight);
     }
@@ -490,7 +497,9 @@ contract FlightProduct is
     function _checkAndUpdateFlightRisk(
         Str flightData,
         Timestamp departureTime,
+        string memory departureTimeLocal,
         Timestamp arrivalTime,
+        string memory arrivalTimeLocal,
         Amount sumInsuredAmount,
         uint256 weight
     )
@@ -499,24 +508,28 @@ contract FlightProduct is
         returns (RiskId riskId)
     {
         bool exists;
-        FlightRisk memory flightRisk;
-        (riskId, exists, flightRisk) = FlightLib.getFlightRisk(
-            _getInstanceReader(), 
-            getNftId(), 
+        FlightRisk memory flightRisk = FlightLib.getFlightRisk(
             flightData, 
             departureTime, 
-            arrivalTime);
+            departureTimeLocal,
+            arrivalTime,
+            arrivalTimeLocal);
+
+        bytes32 riskKey = FlightLib.getRiskKey(flightData);
+        exists = _risks[riskKey].gtz();
 
         // create risk, if new
         if (!exists) {
-            bytes32 riskKey = FlightLib.getRiskKey(flightData);
-            _createRisk(riskKey, abi.encode(flightRisk));
+            riskId = _createRisk(abi.encode(flightRisk));
+            _risks[riskKey] = riskId;
+        } else {
+            riskId = _risks[riskKey];
         }
 
-        // check for cluster risk: additional sum insured amount must not exceed MAX_TOTAL_PAYOUT
-        if (flightRisk.sumOfSumInsuredAmounts + sumInsuredAmount > MAX_TOTAL_PAYOUT) {
-            revert ErrorFlightProductClusterRisk(flightRisk.sumOfSumInsuredAmounts + sumInsuredAmount, MAX_TOTAL_PAYOUT);
-        }
+        FlightLib.checkClusterRisk(
+            flightRisk.sumOfSumInsuredAmounts, 
+            sumInsuredAmount, 
+            MAX_TOTAL_PAYOUT);
 
         // update existing risk with additional sum insured amount
         flightRisk.sumOfSumInsuredAmounts = flightRisk.sumOfSumInsuredAmounts + sumInsuredAmount;
@@ -528,71 +541,85 @@ contract FlightProduct is
         RequestId requestId,
         RiskId riskId, 
         bytes1 status, 
-        int256 delayMinutes,
-        uint8 maxPoliciesToProcess
+        int256 delayMinutes
     )
         internal
         virtual
     {
         // check risk exists
-        InstanceReader reader = _getInstanceReader();
-        (
-            bool exists,
-            FlightRisk memory flightRisk
-        ) = FlightLib.getFlightRisk(reader, getNftId(), riskId);
+        (, FlightRisk memory flightRisk) = getFlightRisk(riskId, true);
 
-        if (!exists) {
-            emit LogErrorRiskInvalid(requestId, riskId);
-            return;
-        }
+        // update status, if not yet set
+        if (flightRisk.statusUpdatedAt.eqz()) {
+            flightRisk.statusUpdatedAt = TimestampLib.current();
+            flightRisk.status = status;
+            flightRisk.delayMinutes = delayMinutes;
+            flightRisk.payoutOption = FlightLib.checkAndGetPayoutOption(
+                requestId, riskId, status, delayMinutes);
 
-        uint8 payoutOption = FlightLib.checkAndGetPayoutOption(
-            requestId, riskId, status, delayMinutes);
+            _updateRisk(riskId, abi.encode(flightRisk));
+        }
 
-        _processPayoutsAndClosePolicies(
+        (,, uint8 payoutOption) = _processPayoutsAndClosePolicies(
             riskId, 
-            payoutOption, 
-            maxPoliciesToProcess);
+            MAX_POLICIES_TO_PROCESS);
 
         // logging
         emit LogFlightStatusProcessed(requestId, riskId, status, delayMinutes, payoutOption);
     }
 
 
-    // REMARK caller responsible to check that risk exists.
     function _processPayoutsAndClosePolicies(
         RiskId riskId, 
-        uint8 payoutOption,
         uint8 maxPoliciesToProcess
     )
         internal
         virtual
+        returns (
+            bool riskExists, 
+            bool statusAvailable,
+            uint8 payoutOption
+        )
     {
         // determine numbers of policies to process
         InstanceReader reader = _getInstanceReader();
+        (riskExists, statusAvailable, payoutOption) = FlightLib.getPayoutOption(reader, getNftId(), riskId);
+
+        // return with default values if risk does not exist or status is not yet available
+        if (!riskExists || !statusAvailable) {
+            return (riskExists, statusAvailable, payoutOption);
+        }
+
         uint256 policiesToProcess = reader.policiesForRisk(riskId);
-        policiesToProcess = policiesToProcess < maxPoliciesToProcess ? policiesToProcess : maxPoliciesToProcess;
+        uint256 policiesProcessed = policiesToProcess < maxPoliciesToProcess ? policiesToProcess : maxPoliciesToProcess;
 
-        // go trough policies
-        for (uint256 i = 0; i < policiesToProcess; i++) {
-            NftId policyNftId = reader.getPolicyForRisk(riskId, i);
+        // assemble array with policies to process
+        NftId [] memory policies = new NftId[](policiesProcessed);
+        for (uint256 i = 0; i < policiesProcessed; i++) {
+            policies[i] = reader.getPolicyForRisk(riskId, i);
+        }
 
-            // create payout (if any)
-            if (payoutOption < type(uint8).max) { 
-                bytes memory applicationData = reader.getPolicyInfo(
-                    policyNftId).applicationData;
+        // go through policies
+        for (uint256 i = 0; i < policiesProcessed; i++) {
+            NftId policyNftId = policies[i];
+            Amount payoutAmount = FlightLib.getPayoutAmount(
+                reader.getPolicyInfo(policyNftId).applicationData, 
+                payoutOption);
 
-                _resolvePayout(
-                    policyNftId, 
-                    FlightLib.getPayoutAmount(
-                        applicationData, 
-                        payoutOption)); 
-            }
+            // create claim/payout (if applicable)
+            _resolvePayout(
+                policyNftId, 
+                payoutAmount); 
 
             // expire and close policy
             _expire(policyNftId, TimestampLib.current());
             _close(policyNftId);
+
+            emit LogFlightPolicyClosed(policyNftId, payoutAmount);
         }
+
+        // logging
+        emit LogFlightPoliciesProcessed(riskId, payoutOption, policiesProcessed, policiesToProcess - policiesProcessed);
     }
 
 
@@ -603,6 +630,11 @@ contract FlightProduct is
         internal
         virtual
     {
+        // no action if no payout
+        if (payoutAmount.eqz()) {
+            return;
+        }
+
         // create confirmed claim
         ClaimId claimId = _submitClaim(policyNftId, payoutAmount, "");
         _confirmClaim(policyNftId, claimId, payoutAmount, "");
@@ -614,15 +646,17 @@ contract FlightProduct is
 
 
     function _initialize(
+        address registry,
         NftId instanceNftId,
         string memory componentName,
         IAuthorization authorization,
         address initialOwner
     )
         internal
-        initializer
+        initializer()
     {
-        _initializeBasicProduct(
+        __Product_init(
+            registry,
             instanceNftId,
             componentName,
             IComponents.ProductInfo({
@@ -646,5 +680,11 @@ contract FlightProduct is
             }),
             authorization,
             initialOwner);  // number of oracles
+
+        MAX_FLIGHT_DURATION = SecondsLib.fromDays(2);
+        LIFETIME = SecondsLib.fromDays(30);
+        WEIGHT_PATTERN = [0, 0, 0, 30, 50, 50];
+        MIN_OBSERVATIONS = 10;
+        MARGIN_PERCENT = 30;
     }
 }