Asian Development Bank
CCRIF – Caribbean Catastrophe Risk Insurance Facility
DMC – developing member country JRO – Japanese
Representative Office TA – technical assistance
TECHNICAL ASSISTANCE CLASSIFICATION
Targeting Classification – General intervention
Sectors – Law, economic management, and public policy; finance
Subsectors – Capital markets and funds, economic management
Themes – Sustainable economic growth, regional
cooperation, private sector
Subtheme – Promoting macroeconomic stability,
private sector investment
Catastrophe – An insurance term synonymous
with disaster (see below).
Similarly, insurance terminology uses “peril”
rather than the term
hazard (see below).
Catastrophe loss – An insurance term implying
high severity of loss that can threaten
or cause insolvency and that does not lend itself
prediction, and thus should be transferred by
business, or nation to the insurer.
Disaster – A serious disruption to the
functioning of a community or a society
causing widespread human, material, economic,
losses that exceed the coping ability of the
affected community or
society using its own resources.