Glossary
Attachment point
In non-proportional reinsurance, an amount over which a reinsurer agrees to start paying benefits (Reinsurance Glossary 2020).
other key terms
Cost multiple
The cost multiple measures the average amount a government pays to receive USD 1 of payout from a financing instrument over its lifetime.
Crisis financing
Funding designed to prevent, prepare for and respond to crises before and after they occur.
Contingent loan (or credit) and grants
A pre approved loan released automatically when agreed crisis conditions or triggers are met.
Vulnerability
Conditions that increase how severely people or communities are affected by hazards.
Indemnity insurance
Insurance that pays based on assessed losses after damage to a specific asset.
Shock-responsive social protection
Social protection systems adapted to scale quickly when large shocks affect many people.
