Glossary

Crisis

A situation creating severe and widespread needs that exceed the existing local and national capacities to prevent, mitigate, or respond. This includes crises arising from a range and combination of hazards including conflict, weather and climate-related events and stresses, and disease (Centre for Disaster Protection).

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Alongside the Airbel Research and Innovation Lab we provide key lessons for how effective crisis response can be financed and triggered

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This paper and accompanying policy brief detail how the CRW has been used to date, and identifies a number of concrete ways of improving its performance.

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other key terms

Sustainable development

Meeting today’s needs without limiting future generations’ ability to meet theirs.

Basis risk

The gap between measured indicators and real losses causing payouts to differ from actual damage.

Crisis financing

Funding designed to prevent, prepare for and respond to crises before and after they occur.

Crisis protection gap

The difference between expected crisis costs and funding already arranged to cover them.

Prevention

Actions taken to avoid or reduce the impacts of future crises and hazards.

Shock-responsive social protection

Social protection systems adapted to scale quickly when large shocks affect many people.