Insurance Glossary.....
The information in this glossary is intended to be general in nature and should not be construed
as specific recommendations, nor as a substitute for the advice of a professional insurance broker who is
familiar with a client's particular exposures or circumstances.
We have endeavored however, to provide information that is as reliable as possible, and request that you contact
our professionals at Wieben Insurance Services for the correct application in your particular
situation.
A|B|C|D|E|F|G|H|I|J|K|L|M|N|O|P|Q|R|S|T|U|V|W|X Y
Z
H
|
|
Hazard
|
|
|
A circumstance that increases the likelihood or probable severity of a loss. For
example, the storing of explosives in a home basement is a hazard that increases the probability of
an explosion.
|
|
|
Hazardous Activity:
|
|
|
Bungee jumping, scuba diving, horse riding and other activities not generally
covered by standard insurance policies. For insurers that do provide cover for such activities, it
is unlikely they will cover liability and personal accident, which should be provided by the
company hosting the activity.
|
|
|
Health Maintenance Organization (HMO):
|
|
|
Prepaid group health insurance plan that entitles members to services of
participating physicians, hospitals and clinics. Emphasis is on preventative medicine, and members
must use contracted health-care providers.
|
|
|
Health Reimbursement Arrangement:
|
|
|
Owners of high-deductible health plans who are not qualified for a health
savings account can use an HRA
|
|
|
Health Reimbursement Arrangement:
|
|
|
Owners of high-deductible health plans who are not qualified for a health
savings account can use an HRA.
|
|
|
Health Savings Account:
|
|
|
Plan that allows you to contribute pre-tax money to be used for qualified
medical expenses. HSAs, which are portable, must be linked to a high-deductible health insurance
policy.
|
|
|
Hired Automobile:
|
|
|
An automobile whose exclusive use has been temporarily given to another for a
monetary sum or other consideration. The business auto definition of 'hired autos,' however,
includes autos borrowed except those borrowed from employees or partners.
|
|
|
Hold Harmless Agreement:
|
|
|
A contractual agreement that requires one contracting party to assume certain
legal liabilities of the other party.
|
|
|
Host Liquor Liability:
|
|
Liability coverage for hosts of business or social functions arising out of the
serving or distribution of alcoholic beverages by a party not engaged in this activity as a
business enterprise.
|
| 
