Indemnity insurance
A (re)insurance contract which pays out compensation worth the ultimate net loss of a specific asset. This type of insurance can be useful in protecting high-value assets such as homes, where there is a relatively narrow scope of potential loss. Insurance payouts are determined based on an assessment of losses after an event has occurred (InsuResilience Global Partnership 2020).
This insight paper aims to support policymakers and practitioners as they seek to scale up financial protection against climate-related shocks through sovereign insurance solutions.
Read moreSustainable development
Meeting today’s needs without limiting future generations’ ability to meet theirs.
Development insurer
An insurer supporting development goals through insurance products and technical assistance.
Crisis financing
Funding designed to prevent, prepare for and respond to crises before and after they occur.
Official development assistance (ODA)
Public aid supporting development and welfare in eligible countries, usually on concessional terms.
Parametric insurance
Insurance that pays when an agreed indicator reaches a set level, not actual losses.
Adaptive social protection
Social protection systems that adjust to shocks, helping vulnerable people prepare, cope and recover over time.
