knock-for-knock agreement
knock-for-knock agreement · knock-for-knock agreements
An arrangement between multiple insurance companies in which each company pays the…An arrangement between multiple insurance companies in which each company pays the losses incurred by its own policyholders in an event, regardless of who was at fault (now rarely used outside of motor insurance).
Meaning
1 sensesAn arrangement between multiple insurance companies in which each company pays the losses incurred by its own policyholders in an event, regardless of who was at fault (now rarely used outside of motor insurance).
Forms
plural: knock-for-knock agreements| Singular | knock-for-knock agreement |
|---|---|
| Plural | knock-for-knock agreements |
regular
Synonyms
2 synonymsknock-for-knock clauseknock-for-knock contract