What is the term used for actual events that can cause damage or loss?

The term that specifically refers to actual events that can cause damage or loss is "perils." Perils are identifiable causes of loss, such as fire, theft, or natural disasters, and they directly lead to insurance claims when they result in damage or destruction to property or liability. Understanding perils is crucial in the context of insurance, as they help define the types of risks that insurance policies cover. Recognizing perils allows policyholders to be informed about what specific events they are protected against under their insurance policies. This is an important distinction in the realm of insurance and risk management, as it clarifies what exact events trigger coverage under various insurance contracts.