Glossary

Climate

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This insight paper aims to improve the reader’s understanding of two initiatives aiming to address aspects of climate challenge.

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This paper explores how DRF instruments are being framed and understood within the panorama of Loss and Damage policy and finance agendas, highlighting areas of contention and sensitivity.

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In the face of increasing climate volatility and stretched aid budgets, more effective ways to support households in times of crisis are needed.

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This paper examines the role insurance can play as part of a wider strategy to help societies adapt to climate change and recover from disasters.

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This synthesis report examines the role that insurance can play in supporting sustainable development and growth

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other key terms

Indemnity insurance

Insurance that pays based on assessed losses after damage to a specific asset.

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.

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.

Accountability

Being responsible for decisions and resources, listening to affected people, and accepting consequences for actions taken.

Total crisis financing

Development funding focused mainly on crisis prevention, preparedness and response activities.

Contingent liabilities

Possible financial obligations that only become real if specific future events occur.