Sports Insurance Glossary : Letter H

Hazard - The presence of a condition that could cause loss or injury to property or persons. For example, smoking in bed increases the chance for loss of property and life resulting from fire.

Health Insurance - There are two major types: Disability income insurance pays for loss of income due to disability; medical expense insurance pays for hospital, doctor and other medical expenses. Both of these generally pay for losses arising from sickness or accidents. Some policies, referred to as "accident policies," do not cover sickness.

Hold Harmless Agreement - A statement or warranty, typically in contracts, whereby one party agrees not to pursue legal action or suit for injuries sustained by that party, as a result of the actions of the other party. A contractual assumption of the liability exposures of another. As an example, a lease agreement commonly requires the tenant to hold the landlord harmless for bodily injury or property damage experienced by others on the premises.

In our applications, selecting "Yes" for "Hold harmless" means that you would like additional coverage. A typical example of what such additional insurance would cover is property damage sustained by a venue owner who claims the damage was due to participants or spectators attending your event.

Hull Policy - An ocean marine or aviation insurance contract covering damage to or loss of a ship or plane, but not the contents.