Glossary

Pandemic

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This paper outlines key trends of financial flows toward outbreak response and identifies relevant emerging initiatives.

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

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

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This cross-country synthesis study calculates what the opportunity cost of budget reallocations was during the Covid-19 pandemic.

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This report looks at key lessons from the UN Office for the Coordination of Humanitarian Affairs (OCHA) first anticipatory action (AA) pilot for drought in Somalia.

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This research has highlighted the flaws in the current system which is not always able to support response where need is greatest.

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This discussion paper examines the unequal impacts of the pandemic across different groups.

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This paper summarises the different shocks created by the global Covid-19 crisis.

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other key terms

Basis risk

The gap between measured indicators and real losses causing payouts to differ from actual damage.

Contingent liabilities

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

Sovereign insurance

Sovereign insurance is insurance coverage purchased by a national government to protect its budget against the financial impacts of disasters.

Index

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

Resilience

The ability to withstand shocks, adapt, recover and continue functioning over time.

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.