Glossary of Insurance Terms
Printed with permission from the Insurance Institute of Canada.
Please choose a letter to continue:
Habitation
Hazard
Hazard, Moral
Hazard, Physical
Highway Traffic Act
Hit and Run Accident
Holdup
Homeowners Policy
Hostile Fire
Habitation
Dwelling place; residence.
Hazard
1) A risk or probability that the event insured against
might occur.
2) Condition which engenders or increases the chances of
a loss.
Hazard, Moral
Hazard arising from character, interest, habits and lack
of integrity of the insured or person concerned.
Hazard, Physical
Hazard arising from physical condition or characteristics
of the object that is insured, e.g., using and storing
volatile materials and substances on the premises.
Highway
Traffic Act
The body or system of laws which govern the obligations
of the provincial governments and users of roads. A
breach or conviction of any of these laws may be an
offence but does not of itself impose legal liability,
but it may be relied upon in any proceeding to establish
or negate any liability.
Hit and Run
Accident
Collision between motor vehicle and/or a motor vehicle
and another object and/or a motor vehicle and a
pedestrian where a driver leaves the scene of the
accident without identifying him/herself. This is an
offence under the Highway Traffic Act.
Holdup
The taking of money or property by threat or the use of
force or violence.
Homeowners Policy
A multi-peril insurance policy for dwelling risks,
combining coverages for fire, and extended coverages
including theft, and liability.
Hostile Fire
A fire which occurs in or escapes to a place not
anticipated, e.g., a fire in a fireplace becomes
uncontrollable and ignites something externally. See
Friendly Fire.
