Glossary

Hazard

A process, phenomenon or human activity that may cause loss of life, injury or other health impacts, property damage, social and economic disruption or environmental degradation (UNISDR 2016).

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Insight Paper

Addressing Loss And Damage: Insights On The Fund And The Global Shield

This insight paper aims to improve the reader’s understanding of two initiatives aiming to address aspects of climate challenge.

Brief

Opportunity Cost Of Covid-19 Budget Reallocations: South Africa

This brief forms part of a cross-country study on the opportunity cost of reallocating budgets in response to disasters.

other key terms

Adaptive social protection

Social protection systems that adjust to shocks, helping vulnerable people prepare, cope and recover over time.

Parametric insurance

Insurance that pays when an agreed indicator reaches a set level, not actual losses.

Development insurer

An insurer supporting development goals through insurance products and technical assistance.

Contingent liabilities

Possible financial obligations that only become real if specific future events occur.

Indemnity insurance

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

Risk transfer

When disaster risk is shifted to insurers or capital markets.