Glossary
Development insurer
Financial institution that offers insurance and complementary technical assistance, tied to explicit development objectives (Centre for Disaster Protection).
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other key terms
Indemnity insurance
Insurance that pays based on assessed losses after damage to a specific asset.
Risk retention
When governments retain and finance disaster costs themselves.
International premium support
Premium support is international funding to pay for insurance premiums.
Prevention
Actions taken to avoid or reduce the impacts of future crises and hazards.
Resilience
The ability to withstand shocks, adapt, recover and continue functioning over time.
Risk layering
Using different financial instruments for different disaster frequencies.
