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After the pile-up on the motorway, the insurers relied on a knock-for-knock agreement to simplify claims.
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After the pile-up on the motorway, the insurers relied on a knock-for-knock agreement to simplify claims.
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Related words
knock-for-knock agreement
Noun
Japanese Meaning
各保険会社が、発生した損失について、責任の所在に関わらず自社の契約者が被った損害を自社で負担する旨の相互合意。 / 主に自動車保険で用いられる、事故が発生した際に各保険会社が自己契約者の損害のみを補償する取り決め。
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