1. Fred owns and drives a 2013 Honda Accord with 50,000 miles in Boston. He parks it in his own garage when he is home and in a public parking garage while at work on weekdays. He has identified the following loss exposures: Fred's car may be stolen from the public parking garage, resulting in the need to rent a car or use public transportation until the car is recovered. Fred may cause a car accident that severely injures another driver, resulting in his being held liable for the driver's medical expenses. For each of Fred's loss exposures, a. Explain whether the frequency of the loss is likely to be high or low. (6 points) b. Describe the maximum possible loss. (6 points) C. Describe two possible relevant sources for obtaining data to analyze the frequency and severity of the loss. (8 points) 1. Fred owns and drives a 2013 Honda Accord with 50,000 miles in Boston. He parks it in his own garage when he is home and in a public parking garage while at work on weekdays. He has identified the following loss exposures: Fred's car may be stolen from the public parking garage, resulting in the need to rent a car or use public transportation until the car is recovered. Fred may cause a car accident that severely injures another driver, resulting in his being held liable for the driver's medical expenses. For each of Fred's loss exposures, a. Explain whether the frequency of the loss is likely to be high or low. (6 points) b. Describe the maximum possible loss. (6 points) C. Describe two possible relevant sources for obtaining data to analyze the frequency and severity of the loss. (8 points)