One relatively novel way of assessing the characteristics and limitations of resilience and vulnerability (R&V) is undertaken in this article by investigating a growing alternative paradigm-loss and damage (L&D) policy. The idea of L&D as an emerging policy may be surprising to many in the disaster risk management community, and so we first outline the origins of this trend, and then explore the potential benefits and pitfalls of adopting it. This short article represents our preliminary opinions and observations regarding this reintroduction of a long-established concept. We also present results from a very brief peer-group survey on some of the first immediate reactions towards L&D policy. At this early stage, this article cannot offer a full-fledged analysis, but our reflections may serve as a starting point to encourage further discussion.