Recital 36 Direct financial losses

For the purpose of determining the direct financial losses resulting from an incident means an incident as defined in Article 6, point (6), of Directive (EU) 2022/2555;, relevant entities means a natural or legal person created and recognised as such under the national law of its place of establishment, which may, acting under its own name, exercise rights and be subject to obligations; should take into account all the financial losses which they have incurred as a result of the incident means an incident as defined in Article 6, point (6), of Directive (EU) 2022/2555;, such as costs for replacement or relocation of software means the part of an electronic information system which consists of computer code;, hardware means a physical electronic information system, or parts thereof capable of processing, storing or transmitting digital data; or infrastructure, staff costs, including costs associated with replacement or relocation of staff, recruitment of extra staff, remuneration of overtime and recovery of lost or impaired skills, fees due to non-compliance with contractual obligations, costs for redress and compensation to customers, losses due to forgone revenues, costs associated with internal and external communication, advisory costs, including costs associated with legal counselling, forensic services and remediation services, and other costs associated to the incident means an incident as defined in Article 6, point (6), of Directive (EU) 2022/2555;. However, administrative fines, as well as costs that are necessary for the day-to-day operation of the business, should not be considered as financial losses resulting from an incident means an incident as defined in Article 6, point (6), of Directive (EU) 2022/2555;, including costs for general maintenance of infrastructure, equipment, hardware means a physical electronic information system, or parts thereof capable of processing, storing or transmitting digital data; and software means the part of an electronic information system which consists of computer code;, keeping skills of staff up to date, internal or external costs to enhance the business after the incident means an incident as defined in Article 6, point (6), of Directive (EU) 2022/2555;, including upgrades, improvements and risk means the potential for loss or disruption caused by an incident and is to be expressed as a combination of the magnitude of such loss or disruption and the likelihood of occurrence of the incident; assessment initiatives, and insurance premiums. The relevant entities means a natural or legal person created and recognised as such under the national law of its place of establishment, which may, acting under its own name, exercise rights and be subject to obligations; should calculate the amounts of financial losses based on available data and, where the actual amounts of financial losses cannot be determined, the entities means a natural or legal person created and recognised as such under the national law of its place of establishment, which may, acting under its own name, exercise rights and be subject to obligations; should estimate those amounts.