The Insurance Terms Glossary is divided alphabetically for ease of browsing. Select the alphabet letter that corresponds to the first letter of the word you would like to be informed about to open the appropriate heading.

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Glossary Terms ' H '

Hard Market - That part of the insurance sales cycle in which competitive pricing is at a minimum as companies charge the premiums necessary to meet their underwriting losses in order to avoid insolvency and boost capacity; usually associated with a sharp decline in capacity. See also Soft Market.

Hazard - Condition that creates or increases the chance of loss.

Health Insurance - Coverage designed to protect against financial losses resulting from sickness or accidental bodily injury. Health insurance coverages include accident insurance disability income insurance medical expense insurance and accidental death and dismemberment insurance.

Health Maintenance Organization - An organization that provides a wide range of comprehensive health care services for a specified group at a fixed periodic payment. The HMO can be contracted with and sponsored by the government medical schools hospitals employers labor unions consumer groups insurance companies and hospital-medical plans.

HIAA - Health Insurance Association of America.

High-Risk Automobile Insurer - Company that specializes in insuring motorists who have poor driving records or have been canceled or refused insurance. · Hold-Harmless Clause: Clause written into a contract by which one party agrees to release another party from all legal liability such as a retailer who agrees to release the manufacturer from legal liability if the product injures someone.

HIPAA - The Health Insurance Portability and Accountability Act of 1996 (HIPAA) was the result of efforts by the Clinton Administration and congressional healthcare reform proponents to reform healthcare. The goals and objectives of this legislation are to streamline industry inefficiencies reduce paperwork make it easier to detect and prosecute fraud and abuse and enable workers of all professions to change jobs even if they (or family members) had pre-existing medical conditions.

HMO - In an HMO plan, members must choose their primary care physician from the HMO's member physicians. This Physician will oversee your heath care and must be consulted first for all medical care. If medically necessary your primary care physician will refer you to a specialist that's part of your HMO network. All medical care must be preformed by a medical provider or hospital that is in your HMO network. These programs normal provide the lowest cost. But provide very limited coverage or no coverage if medical treatment is not approved or outside the HMO network.

Home Service Life Insurance - Industrial life insurance and monthly debit ordinary life insurance contracts that are serviced by agents who call on the policyowners at their homes to collect the premiums. The amount of life insurance per policy generally is larger than $1000.

Homeowner's Policy - A package of insurance designed to provide homeowners with a broad range of property and liability coverages pertaining to events at home as well as away from home (although not automobile-related).

Honesty - Moral uprightness – the quality condition or characteristic of being fair just truthful and morally upright. Truthfulness – truthfulness candor or sincerity (i.e.: In all honesty I really didn’t know.)

Hospice - Health care facility providing medical care and support services such as counseling to terminally ill persons.

Hospital Admissions Program - An arrangement to facilitate admission of persons covered by health insurance to hospitals and to assure the prompt payment of applicable insurance benefits to hospitals.

Hospital Expense Insurance - A form of health insurance designed to provide specific benefits for daily hospital room and board and hospital services during hospital confinement. Generally the policy also provides benefits for surgical operations and for in-hospital doctor's visits in which case the policy is referred to as a Hospital and Surgical Expense Policy.

Hospital Indemnity - A form of health insurance which provides a stipulated daily weekly or monthly indemnity during hospital confinement. The indemnity is payable on an unallocated basis without regard to the actual expense of hospital confinement.

Hospital Medical Insurance - A term used to indicate protection which provides benefits for the cost of any or all of the numerous health care services normally covered under various health care plans.

Hospital Miscellaneous Services - 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 thereof) and use of operating room.

Hull Insurance - (1) Class of ocean marine insurance that covers physical damage to the ship or vessel insured. Typically written on an "all-risks" basis. (2) Physical damage insurance on aircraft similar to collision insurance in an automobile policy.

Human Life Value - For purposes of life insurance the net present value of the family's share of the deceased breadwinner's future earnings.

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