Discussion Question-1 (answer in 3-4 paragraphs) APA style, and cite work, please, provide references

You are a risk manager in a manufacturing company and one of your key responsibilities is securing of property insurance coverage to provide protection against damage caused by “acts of God,” such as earthquakes, hurricanes, floods, etc. You begin the process with due diligence, which is focused on estimating the chances of a single “act of God” occurring in the year, as well as chances of two or more “acts of God” occurring in the year (also in the course of the subsequent year). Consider the different approaches to assigning probabilities to “acts of God.”

-Which of the approaches will you be most inclined to choose and why?
-Which of those approaches will you be least inclined to choose and why?

Justify your answer with examples and reasoning.

Discussion Question-2 (answer in 3-4 paragraphs) APA style, and cite work, please, provide references

You are a risk manager in a manufacturing company. One of your key responsibilities is securing of property insurance coverage to provide protection against damage caused by “acts of God,” such as earthquakes, hurricanes, floods, etc. You begin the process with exposure due diligence, which is focused on estimating the chances of a single “act of God” occurring in the course of the upcoming year, as well as the chances of two or more “acts of God” materializing (also in the course of the next year).

-Where might you find valid data for this?
-Discuss the concept of conditional probability in the context of your task—more specifically, discuss how you would use conditional probability in your exposure due diligence efforts.

Justify your answers with examples and reasoning.

of your key responsibilities is securing of property insurance coverage to provide protection against damage caused by “acts of God,” such as earthquakes, hurricanes, floods, etc. You begin the process with exposure due…