- 20 Mar 2024
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FAIR - Primary Loss Magnitude Values Definitions
- Updated on 20 Mar 2024
- 1 Minute to read
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Overview
The ThreatConnect® Risk Quantifier (RQ) platform uses FAIR™ – primary loss magnitude value variables in some of its financial and probability calculations. Default values for these variables are provided, but users with the appropriate permissions may modify these values. This article provides definitions for the loss types listed on the FAIR – Primary Loss Magnitude Values tab of the Model Tuning screen within the settings for a Legal Entity.
Before You Start
Minimum Role(s) |
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Prerequisites | None |
Loss Types Definitions
Table 1 defines the loss types for all FAIR – primary loss magnitude value variables.
Loss Type | Definitions |
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Fines and Judgment | The amount of fines or judgments you would expect to be levied against your organization through civil, criminal, or contractual actions |
Fines and Judgment – HIPAA Fines | The amount of fines or judgments you would expect to be levied against your organization through civil, criminal, or contractual actions for losing personal health information (PHI) data |
Fines and Judgment – Legal | The cost of the legal fees associated with fines and judgments levied against your organization through civil, criminal, or contractual actions |
Fines and Judgment – PCI Fines | The amount of fines or judgments you would expect to be levied against your organization through civil, criminal, or contractual actions for losing payment card industry (PCI) data |
Fines and Judgment – Settlement | The cost of the settlement fees associated with fines and judgments levied against your organization through civil, criminal, or contractual actions |
Productivity | The loss you would expect to result from an operational inability to deliver products or services |
Productivity – Ransom | The extortion, or ransom cost, you would expect to pay to malicious actors who hold your systems ransom |
Productivity – Revenue | The revenue loss you would expect to incur from a cyber attack |
Response | The loss you would expect to result from the costs of managing an event |
Response – Credit Monitoring | The fees you would expect to pay for monitoring customers’ credit scores related to a loss of personal data |
Response – Remediation | The cost you would expect to incur for mitigating, cleaning up, or preventing a threat from reoccurring |
ThreatConnect® is a registered trademark of ThreatConnect, Inc.
FAIR™ is a trademark of The FAIR Institute.
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