Covariate shocks
Covariate shocks are those which affect many people in the same community at once; the experience of one household is highly covariate with that of other households in the community (Jalan and Ravallion 1999).
Accountability
Being responsible for decisions and resources, listening to affected people, and accepting consequences for actions taken.
Attachment point
The loss level above which a reinsurer begins paying under a reinsurance agreement.
International premium support
Premium support is international funding to pay for insurance premiums.
Vulnerability
Conditions that increase how severely people or communities are affected by hazards.
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.
International development financing
Public funding flows supporting development objectives in lower income countries.
