What term describes events or conditions that increase the chances of an insured loss occurring?

The term that best describes events or conditions that increase the likelihood of an insured loss is "hazards." Hazards can be understood as factors that contribute to the risk of loss by either increasing the chance of a peril occurring or exacerbating the severity of a loss once a peril has taken place.

For example, in the context of property insurance, a hazard might be a poorly maintained roof that is more susceptible to damage from strong winds. Identifying and mitigating hazards is crucial in risk management and underwriting processes, as it helps insurers assess the risk more accurately and price policies accordingly.

The other terms listed have different meanings in the context of insurance. "Perils" refer to the actual causes of loss or damage, such as fire, theft, or natural disasters. "Liabilities" relate to the legal obligations that arise when someone suffers harm or loss due to the actions or negligence of another party. "Consequences" generally refer to the outcomes or effects that result from an event or situation. Thus, hazards specifically pertain to conditions that elevate the risk of loss, making it the correct answer.