Which of the following is not a type of hazard associated with insurance?

In the context of insurance, hazards are factors that increase the likelihood of a loss occurring. The types of hazards typically recognized include physical hazards, moral hazards, and morale hazards.

Physical hazards refer to tangible or observable conditions that increase risk, such as a wet floor or poorly maintained equipment. Moral hazards involve individuals' behavior changes when they are insured, potentially leading to dishonest actions, like insurance fraud. Morale hazards relate to an insured person's attitude and behavior, often leading to careless behavior because they feel a safety net is in place due to insurance coverage.

Regulatory hazard is not a recognized type of hazard associated with insurance. While regulations affect the insurance industry, they do not directly represent a hazard to the insured property or personal behavior that leads to risk, which distinguishes it from the other three recognized types.