Glossary

Annual Report

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A Year in Review is the Centre’s first published annual report. It details our progress and the challenges we’ve encountered, and showcases our impact.

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other key terms

Catastrophe bond

A catastrophe bond (cat bond) is a risk-transfer financial instrument that allows governments or insurers to transfer disaster risk to capital market investors.

Financial Flows

Financial flows refer to the movement of funds for disaster risk reduction (DRR) and response, covering planned and unplanned sources.

Adaptive social protection

Social protection systems that adjust to shocks, helping vulnerable people prepare, cope and recover over time.

Crisis

A situation where severe needs overwhelm local and national capacity to respond effectively.

Crisis risk

The likelihood of harm or loss from crises shaped by hazards, exposure, vulnerability and capacity.

Parametric insurance

Insurance that pays when an agreed indicator reaches a set level, not actual losses.