1. Use the following information of Information of Kadin Properties to answer the question below:

Building name         Location                              Property Value              Content Value

Building A             South Africa (Gauteng)         R8 million                             R1 300 000

Building B             Zimbabwe (Harare)                R3 million                              R500 000

Building C              Namibia (Windhoek)             R9 million                               R960 000

Additional Information

1. The latest risk assessment report of Kgadi Properties indicates that existing control measures could salvage the buildings and the contents as follows:

Building A 68%

Building B 85%

Building C 76%

2. The shareholders of Kgadi Properties are concerned by the role of the South African government and other SADC countries in the Russia and Ukraine war.

3. Building and content amounts are shown in rands values because it is a reporting currency of Kgadi Properties.

Question

Calculate Estimate Maximum Loss (EML) if the building in Namibia burned due to veld fires. The content of the building was not affected due to timely intervention by government services.

2. Use the following information of the University to answer the question below:

(i) Insurance records

Option	Premium	Deductible
A	R4 500	R0
B	R3 900	R2 000
C	R3 500	R1 900
D	R2 800	R1 000
E	R1 900	R300

(ii) Vehicle Records

No	No of vehicles	Vehicle Book values	Number of accidents	Accident costs per annum
2022	23	R9 309 000	11	R4 300 000
2021	17	R7 207 000	9	R3 900 000
2020	14	R3 100 000	3	R800 000
2019	11	R2 900 000	10	R2 800 000
2018	9	R1 980 000	8	R1 200 000

Question

Calculate average cost of accident per annum.

 Calculate average number of accidents per annum.