Which of the following best describes the causes of loss that are insured against in an insurance policy?

The correct answer is "perils." In the context of an insurance policy, perils refer to specific events or causes that can lead to a loss. These are the circumstances that result in damages or claims covered by the policy, such as fire, theft, windstorm, or vandalism. An understanding of perils is crucial for policyholders, as it defines what situations their insurance will protect them against.

While "risks" generally represent the possibility of a loss occurring, they are broader and do not specify the causes of that loss. "Hazards," on the other hand, are conditions or situations that increase the likelihood of a peril occurring but do not themselves result in loss. Lastly, "losses" refer to the actual financial impact or damage that occurs as a result of a peril, not the causes of that damage. Thus, perils are the most accurate term to describe the specific causes of loss insured against in an insurance policy.