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Insurance Glossary

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  • Hail Insurance:
    Form of insurance that protects against loss of crops from hail.

  • Hazard:
    A condition that creates or increases the chance of loss.

  • Health Insurance:
    Insurance against financial losses resulting from sickness or accidental bodily injury.

  • Health Insurance:
    An insurance policy that provides payment for benefits of a covered sickness or injury. Included under this definition are various types of insurance such as: accident insurance, disability insurance, medical expense insurance, and accidental death and dismemberment insurance.

  • Health Maintenance Organization (HMO):
    An HMO is a prepaid medical service plan that provides a wide range of comprehensive health care services for a specified group (members) or individuals at a fixed periodic payment.

  • High-Risk Automobile Insurer:
    A insurance company that specializes in insuring motorists who have poor driving records.

  • Hold-Harmless Clause:
    A clause written into an insurance policy which one party agrees to release another party from any legal liability.

  • Homeowners Policy:
    A package policy providing home owners with a broad range of property and liability coverages.

  • Hospice:
    A health care facility providing medical care and support services for terminally ill persons.

  • Hospital Expense Insurance:
    A health insurance policy that covers daily hospital room and board charges and some miscellaneous hospital expenses.

  • Hospital Miscellaneous Services:
    Any services other than room and board (and general nursing services) provided by a hospital during hospital confinement. Included are such items as: X- ray examinations, laboratory tests, medicines, surgical dressings, anesthetics (including the administration of), and use of operating room.

  • Hull Insurance:
    A class of ocean marine insurance that covers physical damage to the ship or vessel insured. Usually, written on an "all-risks" basis. Also can provide physical damage insurance on a aircraft, similar to collision insurance in an automobile policy.

  • Human Life Value:
    A method of determining Life insurance needs by taking into account a person's income, expenses, remaining years of earning, and the depreciation of money over time.

  • Hurricane:
    A tropical storm marked by extremely low pressure and circular winds with a velocity of 75 miles an hour or more.

 
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Insurance Glossary is Copyrighted By Richard H. Reynolds.
Insurance Network of America Uses This Glossary By Permission.

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Important Note: This website provides only a simplified description of coverages and is not a statement of contract. Coverage may not apply in all states. For complete details of coverages, conditions, limits and losses not covered, be sure to read the policy, including all endorsements.

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