import re

st = """data/policy/line[Type="BusinessOwners"]/risk/coverage[Type="FuelHeldForSale"]/id"""
pattern = re.compile(r'(\w+)\[(\w+)=\"(\w+)\"\]')

def get_replacement(item):
    match = pattern.fullmatch(item)
    if match:
        return match.group(1), {match.group(2): match.group(3)}
    return item,

paths = []
for item in st.split('/'):
    paths.extend(get_replacement(item))
    
print(paths)