What is the minimum damage cost threshold defining a Class A MISHAP?

A Class A MISHAP is defined by the United States Coast Guard and other military organizations based on significant financial thresholds that reflect the severity of an incident. The minimum damage cost threshold for a Class A MISHAP is set at $2,000,000. This threshold indicates that incidents leading to damages at or exceeding this amount are classified as Class A, reflecting serious consequences that not only involve monetary loss but may also encompass loss of life, severe injury, or significant equipment damage. This classification helps prioritize resources and response efforts to incidents that pose a substantial risk to personnel and equipment, ensuring that higher levels of incident management are applied where necessary. It is crucial for personnel to accurately understand these definitions, as they guide reporting, investigations, and safety measures within the organization.