My hosting provider suffers at least one major downtime every year, lasting typically one to two hours. Some downtimes have lasted as much as 12 hours.
The most damaging instance was a downtime that lasted 3 full days and resulted in loss of data. I was never compensated for any of these downtime or the data loss. I suffered a few thousand dollars loss as a result of that downtime due to loss of goodwill. None of which the company compensated.