A knock-for-knock agreement is an agreement between two insurance companies whereby, when both companies` policy-holders incur losses in the same insured event (usually a motor accident), each insurer pays the losses sustained by its own policy-holder regardless of who was responsible. ==Rationale== The rationale is economic and administrative ef....
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Although it currently rarely applies, this is a motor insurance term describing an agreement ... <a target=_blank href='http://www.finance-glossary.com/terms/knock-for-knock-agreement.htm?id=820&ginPtrCode=00000&PopupMode=false' title='Read full definition of knock for knock agreement'>more</a>
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