Attachment point
In non-proportional reinsurance, an amount over which a reinsurer agrees to start paying benefits (Reinsurance Glossary 2020).
Disaster
A severe event causing widespread harm that exceeds a community’s ability to cope alone.
Crisis protection gap
The difference between expected crisis costs and funding already arranged to cover them.
Sovereign insurance
Sovereign insurance is insurance coverage purchased by a national government to protect its budget against the financial impacts of disasters.
Adaptive social protection
Social protection systems that adjust to shocks, helping vulnerable people prepare, cope and recover over time.
Hazard
A natural or human process that can cause injury, damage or disruption.
Vulnerability
Conditions that increase how severely people or communities are affected by hazards.
