HAZARD: A specific situation that increases the probability of the occurrence of loss arising from a peril or that may influence the extent of the loss. For example, accident, sickness, fire, flood, liability, explosions are perils. Slippery floors, unsanitary conditions, shingled roofs, congested traffic, unguarded premises and uninspected boilers are Hazards.
HEALTH INSURANCE: Protection against the costs of hospital and medical care or lost income arising from an illness or injury (sometimes called Accident & Sickness Insurance).
HELD COVERED: A provisional acceptance of risk, subject to confirmation at a later date that the agreed cover is needed. Where applicable to an existing insurance, cover is conditional, in practice, on prompt advice to the Underwriter as soon as the Assured is aware of the circumstances to be held covered coming into effect and a reasonable additional premium is payable if the risk held covered comes into effect.
HIRED AUTOMOBILE: Autos the insured leases, hires, rents or borrows but not autos owned by employees or members of their households.
HIT AND RUN: Collision between a motor vehicle with another motor vehicle, object or pedestrian, where the driver of the vehicle leaves the scene of the accident without identifying himself.
HMO (Health Maintenance Organization): An organization that provides health care for a monthly payment set in advance. In a traditional HMO, doctors and other providers are salaried employees and the facilities are owned by the organization. In recent years, however, other forms of HMOs have sprung up that contract with doctors and hospitals to care for members at set, negotiated fees. Many HMOs are hybrids, offering both kinds of care to members.
HOLD-HARMLESS AGREEMENT: A contractual arrangement whereby one party assumes the liability inherent in a situation, thereby relieving the other party of responsibility. Such agreements are typically found in contracts like leases. A typical lease may provide that the lessee must "hold harmless" the lessor for any liability from accidents arising out of the premises.