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

International premium support

Premium support is international funding to pay for insurance premiums.

Social protection

Policies and programmes designed to reduce and prevent poverty and vulnerability throughout the life cycle.

Parametric insurance

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

International crisis financing system

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

Index

A measurable indicator used to estimate losses and trigger financial payouts.

Risk layering

Using different financial instruments for different disaster frequencies.