Question 1. Lusaka transporters Lusaka transporters operates a fleet of vehicles that provide passenger and freight services. The industry regulator requires your company to submit a risk managent policy as part of the conditions for the regulator to award your company an operating lincence. Management has tasked you with the responsibility to draft a policy on loss management. You have reached the stage where guidance must be provided to staff on how to respond to potential losses in the policy. 1. Describe the objectives of loss management. 5 marks 2. You are required to clearly distinguish between the terms loss analysis, loss measurement, and loss evaluation. Justify your answer by describing what each term means, how its done, why its done, when its done and by whom. 15 marks 3. Advise management as to what response to undertake for each combination of loss frequency and severity by completing the table below.. 5 Marks Total 25 mark