Hello!
Thanks again...Ok so maybe this helps,
There was a loss realized on part of an activity in 2013 for 300,000€ and has not happened again.
The loss was related to certain activity that happened between 2010 and 2013.
A mitigating action was put in place so that such issue does not occur again. So risk for this is zero and probability zero.
However, a similar activity is running the risk of having the same issue.
It started in 2010 and has ran until 2015. In 2015 mitigating actions have been taken to stop the future issues, but the actions between 2010-2015 cannot be mitigated and the risk remains that a loss may occur for these.
The estimated risk is max 50mio-min 5 million (1mio per year)
We could say that both activities are the same so the issue has happened 1 in 6 years and 3 years ago.
Do you need more information?
Many thanks!