What term refers to an event that unexpectedly causes a loss in insurance?

The term that refers to an event that unexpectedly causes a loss in insurance is "peril." A peril is an event or situation, such as a fire, flood, or theft, that can lead to a loss covered by an insurance policy. Understanding this term is crucial for insurance adjusters, as it helps them determine the cause of a loss and whether it's covered under the policy.

The other terms listed do have specific meanings in the insurance context but differ from the concept of an event that directly causes a loss. "Occurrence" generally refers to an event that results in a loss over a period of time, while "liability" pertains to the legal responsibility for causing harm or loss to another party. A "claim," on the other hand, is the formal request made by the insured to the insurer for payment or benefits after a covered loss has occurred. Thus, while these terms are related to the insurance process, they do not specifically identify the unexpected event that leads to a loss, which is precisely what "peril" encapsulates.