Glossary
Attachment point
In non-proportional reinsurance, an amount over which a reinsurer agrees to start paying benefits (Reinsurance Glossary 2020).
other key terms
Preparedness
Skills, systems and resources developed to respond effectively to likely future crises.
Crisis
A situation where severe needs overwhelm local and national capacity to respond effectively.
Shock-responsive social protection
Social protection systems adapted to scale quickly when large shocks affect many people.
Early warning system
Systems that monitor hazards and share information early, so people can act in time.
Climate resilient debt clause or 'debt pause clause'
A provision in sovereign debt contracts that enables the borrower to temporarily stop repaying debt service for a pre-agreed period when a predefined event occurs.
Contingent loan (or credit) and grants
A pre approved loan released automatically when agreed crisis conditions or triggers are met.
