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

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This paper charts the evolution of the World Bank’s approach to crisis risk financing.

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other key terms

Anticipatory Action

Actions taken before a crisis hits to prevent or reduce potential disaster impacts prior to a shock or before acute impacts are felt.

Indemnity insurance

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

International crisis financing system

The network of global organisations funding crisis prevention, preparedness and response.

Official development assistance (ODA)

Public aid supporting development and welfare in eligible countries, usually on concessional terms.

Crisis

A situation where severe needs overwhelm local and national capacity to respond effectively.

Pre-arranged financing

Financing approved before crises that is released automatically when agreed triggers are met.