What describes incidents that are highly improbable yet have significant impacts?

The term that describes incidents that are highly improbable yet have significant impacts is known as Black Swan Events. These events are characterized by their rarity and unpredictability but can have extreme consequences when they do occur. The concept was popularized by Nassim Nicholas Taleb, who emphasized that these events are not just about their rarity but also about the profound effects they can have on systems, economies, and societies.

In decision-making and risk management, recognizing the potential for Black Swan Events is crucial because traditional models often fail to account for such anomalies. This is relevant in various fields, including finance, cybersecurity, and disaster preparedness, as organizations need to develop strategies to either mitigate the risks posed by such unpredictable incidents or adapt to their consequences effectively.

Other choices, such as predictable occurrences, routine incidents, and common threats, do not fit this description as they relate to risks that can be anticipated and managed based on past data or trends, which is not the case with Black Swan Events.