1. In Manama, ABC Insurance covered 5,000 commercial spaces for 2021. The company estimates that there is a 2% chance of loss caused by any peril in the area covered. In addition, per historical data, 350 to 120 buildings experience some form of loss in a year. Requirements; (HANDWRITTEN) a. What is the expected value of loss? (3 marks for the correct process + 2 marks for the correct answer = 5 marks) b. What is the objective risk of the area covered by ABC? 1. In Manama, ABC Insurance covered 5,000 commercial spaces for 2021. The company estimates that there is a 2% chance of loss caused by any peril in the area covered. In addition, per historical data, 350 to 120 buildings experience some form of loss in a year. Requirements; (HANDWRITTEN) a. What is the expected value of loss? (3 marks for the correct process + 2 marks for the correct answer = 5 marks) b. What is the objective risk of the area covered by ABC