Annualized Rate of Occurrence
Annualized Rate of Occurrence : "The probability that a risk will occur in a particular year For example, if insurance data suggests that a serious fire is likely to occur once in 25 years, then the annualized rate of occurrence is 1/25 = 0.04". (Risky Thinking (Risk Management, Disaster Recovery, and Business), A Glossary of Risk Related Terms, 2007)