Part III: Case Application and Written Answers (10 marks) (Ilo's: A1, A2,C1. C2. D4) 1. The legal significance of a representation is that the insurance contract is voidable at the insurer's option if the representation is material and false. Explain this statement. (2 marks) 2. Wholefoods Inc is an organic supermarket with locations across the world. Their in-house products range from fruits and vegetables, baked goods, frozen produce, cosmetic and toiletries to everyday household items. Each supermarket usually contains a coffee shop and serves hot food and ready sandwiches. Wholefoods employ over 12,000 staff worldwide in various roles, own offices worldwide, have warehouses for dry/cool storage and have an online ordering service supported by a fleet of delivery cars and trucks. Identify two major risks associated with Wholefoods Inc operations. For each risk identified, Risk Control Method Risk Financing Method Risk Description Type of Loss Exposure Treatment method: Treatment method: Description: Description: Treatment method: Treatment method: Description: Description: determine the type of loss exposure and provide one risk control treatment method, and one risk financing treatment method. (4 marks) Part III: Case Application and Written Answers (10 marks) (Ilo's: A1, A2,C1. C2. D4) 1. The legal significance of a representation is that the insurance contract is voidable at the insurer's option if the representation is material and false. Explain this statement. (2 marks) 2. Wholefoods Inc is an organic supermarket with locations across the world. Their in-house products range from fruits and vegetables, baked goods, frozen produce, cosmetic and toiletries to everyday household items. Each supermarket usually contains a coffee shop and serves hot food and ready sandwiches. Wholefoods employ over 12,000 staff worldwide in various roles, own offices worldwide, have warehouses for dry/cool storage and have an online ordering service supported by a fleet of delivery cars and trucks. Identify two major risks associated with Wholefoods Inc operations. For each risk identified, Risk Control Method Risk Financing Method Risk Description Type of Loss Exposure Treatment method: Treatment method: Description: Description: Treatment method: Treatment method: Description: Description: determine the type of loss exposure and provide one risk control treatment method, and one risk financing treatment method. (4 marks)