Hazard

A circumstance that increases the likelihood or probable severity of a loss. For example, an unattended lit cigarette is a hazard that increases the likelihood of a fire.

Health Plan Flexible Spending Account

Central fund into which employees contribute pre-tax earnings to pay for health insurance premiums and uninsured medical costs. When the employee submits evidence of medical expenses paid out-of-pocket, he or she is reimbursed from the fund.

Heir

An individual who inherits some or all of the estate of a deceased person by virtue of being in the direct line of descent, or being designated in a will or by legal authority. The term is often applied to … Continued

Heirs and Assigns

Heirs are individuals who inherit some or all of the estate of a deceased person by virtue of being in the direct line of descent, or being designated in a will or by a legal authority. Assigns or assignees is … Continued

Hold Harmless Agreement

A clause in a contract in which one party agrees not to hold the other responsible for, or to protect the other from, any claims.

Hospice

Facility that provides short-term continuous care in a home-like setting for terminally ill people with a life expectancy of six months or less. Some health insurance plans cover hospice stay up to a certain limit with no deductible.