Hazard

Hazard is a source of potential harm from past, current, or future exposures.

It is a circumstance that increases the likelihood or probable severity of a loss. For example, the storing of explosives in a home basement is a hazard that increases the probability of an explosion.

Hazard can simply be a threat or condition, which may result from either an external cause (e.g. earthquake, flood, or human activity) or an internal vulnerability, with the potential to initiate a failure mode. A source of potential harm or a situation with a potential to cause loss.

The potential of any machine, equipment, process, material (includingbiological and chemical) or physical factor that may cause harm to people, or damage toproperty or the environment.