A loss that has been measured and expressed in specific dollar amounts with supporting evidence. This includes direct costs (like replacing damaged equipment or paying for data recovery) and indirect costs (like lost income during system downtime). For business interruption claims, insurers require specific calculation methods - typically comparing your actual revenue during the incident to historical averages from the same period. You need proper documentation such as financial statements, receipts, and accounting records to prove your losses. For example, if a cyber attack shuts down your online store for three days, you would calculate lost sales based on the previous year's daily revenue for those same days. Without proper documentation and accepted calculation methods, insurers may dispute or reduce your claim payment.
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