Prevention
Activities and measures to avoid existing and new crisis risks, including mitigation activities that lessen or minimise the adverse impacts of a hazardous event without fully avoiding the impacts (the Centre, based on UNISDR 2016).
Development insurer
An insurer supporting development goals through insurance products and technical assistance.
Climate resilient debt clause or 'debt pause clause'
A provision in sovereign debt contracts that enables the borrower to temporarily stop repaying debt service for a pre-agreed period when a predefined event occurs.
Sustainable development
Meeting today’s needs without limiting future generations’ ability to meet theirs.
Pre-arranged financing
Financing approved before crises that is released automatically when agreed triggers are met.
Ex ante
Actions, decisions or financial arrangements made before a disaster or crisis occurs.
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.
