+hit reduces your miss rate, which at lvl73 enemies is around 9%
+expertise reduces the chance the enemy has to dodge and parry your attacks, lvl73 enemies stand around 6% dodge and 14% parry (maybe less parry but I can't check atm :P)
If you increase your +hit by 1% you will reduce the chance of failing attacks due to missing the boss.
If you increase your +expertise by 1% you will reduce the chance of failing attacks due to the boss dodgeing AND parrying your attack, that's why it's said that +1% expertise is similar to +2% of hit, because it reduces both dodge and parry at the same time.
Why don't include hit and expertise under the same name? Because making the boss avoid less attacks is not the same that making your character to miss less often. Increasing one of those ratings have, in fact, the same impact in your TPS or DPS but it's not the same. The better example of this is what happens when bosses parries one of your attacks.




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It's silly, as there's already a stat that's called this, but it is really what they do. Hit rating removes miss, Expertise removes dodge and parry -- thus both increase your chance to hit.

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