A dead license dongle can usually be replaced for a small fee once you return the dead one.
But a lost dongle often results in having to fork out the full cost of a new license (or use insurance).
Mainly because if that was not the case, you could give it to a friend, say you lost it and get a cheap replacement and your friend could use the software for free as long as they stay offline so the lost dongle S/N never gets deactivate in an update.
I'm in a bit of a doubt about this. Because if you have a dongle, that allows you to use a software that you are not licensed, you are still breaking the license agreement. So I don't think it would fly with any serious court that you have to buy a new license. Plus software like Orcad needed a license file and a dongle, and it was computer tied, and PITA to get working, with calls to the support department. I guess they will of course try to sell you a new license, but I don't think it's legally acceptable.
In court maybe you'd be right, since the dongle has no real function. But doesn't stop companies from having the policies:
https://softron.zendesk.com/hc/en-us/articles/207695807-Policy-for-Lost-or-Stolen-dongles-Are-dongles-guaranteedhttps://www.ecadstar.com/en/lost-license-files-dongles/ (they'll replace it for free IF you are paying maintenance, if not cough up the full price)
https://www.laserscanningforum.com/forum/viewtopic.php?t=17205Just gives off the vibe of a unfriendly company, if using a dongle in 2024 wasn't bad enough already.
Surprisingly Altium would re-instate old licenses completely for free, even if you don't have maintenance.