Which of the following is an example of a hazard?

A hazard represents a scenario that increases the likelihood of a loss or damage occurring. In this case, storing dangerous materials clearly exemplifies a hazard because it introduces a condition that could potentially lead to accidents or harm. The presence of these materials can create situations that heighten the risk of fire, explosion, or spills, which can result in property damage or personal injury.

On the other hand, high value property, while potentially resulting in significant loss if damaged, does not inherently increase the risk of loss itself—it is simply an asset that could be affected. Having insurance coverage is a financial safeguard and does not impact the risk factors involved in causing a loss. Additionally, while natural disasters can result in loss, they are considered perils rather than hazards, as they are specific events that might cause damage rather than conditions that increase the likelihood of such events occurring.