Fire hazard and fire risk assessment has gained popularity in assessing the performance of alternative approaches to prescriptive regulations and in justification of proposed changes to regulations and referenced standards. While risk is the preferred methodology, often the probabilities needed are not available and cannot be estimated, resulting in a default to hazard assessment. In other cases society is hazard averse, and hazard assessment is the preferable approach. This paper will provide an overview of fire hazard and fire risk assessment methodologies used in regulatory systems and the tools available for conducting them. Examples of regulatory applications drawn from buildings, transportation, and nuclear safety will be provided.