Glossary
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K
- Knock for knock
- A term used to describe an agreement between two insurers whereby each will meet the cost of repairing their own insured's vehicle rather than go to the cost of swapping cheques. Because insurer A will meet many claims during the course of a year from insurer B and vice versa this is a sensible saving of administration by each of them that does not affect the client's interest in any way.
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