Which of the following is NOT an example of uninsured losses?

The answer is correct because accidents that occur during the rental period are generally considered insured losses, as they are typically covered under the rental agreement and the insurance policies associated with the rental. When a vehicle is rented out, the rental company usually has liability coverage that addresses accidents, damages, and injuries that occur while the rental is in effect.

On the other hand, conversions are instances where a vehicle is stolen by the renter and this loss is not covered by insurance, which makes it an example of an uninsured loss. Lot damage refers to vehicles damaged while parked on the rental lot, which also represents a loss that is often not recoverable through insurance. Employee accidents involve losses that may not be covered under standard commercial vehicle policies, particularly if they pertain to off-duty incidents or activities outside of the employee's work responsibilities. These factors collectively contribute to why option C stands out as the only example of a loss that is typically covered by insurance during the rental period.