Which of the following would constitute a "direct loss"?

A "direct loss" refers to an immediate physical loss or damage to property. This can include any situation where the property itself is damaged and can be specifically identified. In the context of the question, damage to a building from a fire fits this definition perfectly. The fire causes immediate harm to the physical structure of the building, resulting in repair or replacement needs.

The other options, while related to losses, do not represent direct losses. Loss of income due to business interruption involves subsequent financial consequences rather than structural damage. Repairs of damaged electronic equipment may involve costs related to the repair but do not directly indicate physical damage to property like a building would. Increased expenses resulting from property loss reflects additional costs incurred because of the loss rather than the loss of the property itself. Therefore, the damage to a building from a fire is the clear example of a direct loss.