I don't think anyone in history has ever achieved a true 10^-7 annual probability of any data loss incident. So they must have been making some kind of per record or per operation claim.
The way I would go is by saying that you multiply the number of objects by AFR, and that’s close to the actual losses on most years. You can then exclude WW3 and the late holocene extinction event from your consideration. Or simple bankruptcy, for that matter. If your employer is gone, you don’t care about its data any more.