Loss Event

Point in time in an abnormal situation when an irreversible physical event occurs that has the potential for loss and harm impacts.
Note: Examples include release of a hazardous material, ignition of flammable vapors or ignitable dust cloud, and overpressurization rupture of a tank or vessel. An incident might involve more than one loss event, such as a flammable liquid spill (first loss event) followed by ignition of a flash fire and pool fire (second loss event) that heats up an adjacent vessel and its contents to the point of rupture (third loss event). Generally synonymous with hazardous event.