Which of the following is primarily responsible for the cause of loss?

Peril is the term used in insurance to indicate the actual cause of a loss. It refers to specific events or situations that can lead to damage or injury. For example, in a homeowner's insurance policy, peril can include events such as fire, theft, or natural disasters like floods or earthquakes. Understanding peril is crucial for both insurers and policyholders; it defines the risk that is being insured against.

Other terms in the context of insurance serve different purposes. Exposure refers to the state of being subject to loss, which encompasses the potential for loss but does not identify a specific cause. Hazard refers to conditions that increase the likelihood of a peril occurring, such as living in a flood-prone area. Risk is a broader concept that encompasses both chance of loss and potential financial impact but does not pinpoint the cause. Thus, peril is the correct answer as it specifically identifies the cause of the loss that insurance policies aim to cover.