Final answer:
Peril is defined as a cause of loss or damage. It refers to any event or situation that may cause a loss covered by an insurance policy.
Step-by-step explanation:
The correct answer is b. peril. Peril is defined as a cause of loss or damage. In the context of insurance, peril refers to any event or situation that may cause a loss covered by an insurance policy. Examples of perils include fire, theft, accidents, natural disasters, and other unforeseen incidents.