1- The following threats pose serious financial consequences to companies if they are not properly managed. For each of these threats, describe the category of risk and Explain your answer a. Database and IT systems of a company are hacked b. In the aftermath of a hurricane, plants were destroyed c. Physical damage loss resulting in the firm being closed for a period of time d. Market Volatility e. Supply Chain Disruptions f. Regulatory Changes 2- In Southeast Asia, ABC Company is engaged in oil and gas exploration and production. The company's management has decided to expand its business to Asia and Europe. What kind of risk may ABC Company face? What can it do to manage those risks? 3- Critically discuss different costs imposed by the risk on the society. 4- How does having a lot of people in an insurance pool affect how insurance companies set prices and make money? What challenges do they face when they try to use this idea, and how can they deal with those challenges effectively? 5- How can insurance companies enhance risk control methods to reduce the occurrence and impact of insurance claims, ultimately improving their business outcomes