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Volume 32, Issue 1

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Glossary of terms used on this site


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UPDATED: March 2019
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Glossaries

TermDefinition
Unexpected Loss
The worst-case financial loss or impact that a business could incur due to a particular loss event or risk. The unexpected loss is calculated as the expected loss plus the potential adverse volatility in this value.
Uninterruptible Power Supply (UPS)
A backup electrical power supply that provides continuous power to critical equipment in the event that commercial power is lost.A battery powered backup power supply use to provide short-term temporary power in the event of failure of mains supply.
Urgent Activity
A term used to cover activities in support of Product and Services which needs to be done within a short timescale.