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
Crisis risk
The likelihood of harm or loss from crises shaped by hazards, exposure, vulnerability and capacity.
Covariate shocks
Shocks affecting many households at once where losses are shared across the same community.
Prevention
Actions taken to avoid or reduce the impacts of future crises and hazards.
Parametric insurance
Insurance that pays when an agreed indicator reaches a set level, not actual losses.
Crisis financing
Funding designed to prevent, prepare for and respond to crises before and after they occur.
Attachment point
The loss level above which a reinsurer begins paying under a reinsurance agreement.
