International premium support
Premium support is international funding to pay for insurance premiums. It is paid to or on behalf of vulnerable countries or humanitarian actors to buy insurance coverage (Centre for Disaster Protection).
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.
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The growing scale, duration and impact of refugee crises requires innovative approaches to financing.
Read moreDevelopment bank
A public financial institution providing loans, grants and expertise to support development goals.
Sovereign insurance
Sovereign insurance is insurance coverage purchased by a national government to protect its budget against the financial impacts of disasters.
Trigger
A predefined threshold that activates payments or actions within risk financing mechanisms.
Preparedness
Skills, systems and resources developed to respond effectively to likely future crises.
Disaster
A severe event causing widespread harm that exceeds a community’s ability to cope alone.
Catastrophe bond
A catastrophe bond (cat bond) is a risk-transfer financial instrument that allows governments or insurers to transfer disaster risk to capital market investors.
