A knock for knock agreement is an agreement between two insurance companies under which the policyholders of both companies suffer losses in the same case (usually a car accident), each insurer pays the losses of its own policyholder, regardless of who is responsible. Insurable interest: a concept of protected interest. This is a situation in which prime ministers would be interested in the intended purpose. The former will suffer losses in the event of a disaster that causes damage to the object. These financial interests allow prime ministers to secure the property or interests of other prime ministers. The reason for this is economic and administrative efficiency: while an insurer may be able to track recovery from the party responsible for an accident or its policyholder, this is an expensive administrative procedure. The Knock for Knock agreement simplifies debt collection between insurers and, over time, allocates costs fairly to insurers. Knock-for-Knock refers to an agreement between insurers according to which, in the event of an accident, everyone will pay for the damage suffered by the vehicle they insure without trying to justify the guilt What if the car you hit, like you, turns out to be insurance? In the world of insurance, this is called knock for knock agreement, which is an agreement between insurance companies in the event of an accident/collision with two insured vehicles. Here, you and the one you meet must submit a right to your respective insurance. I hope that this can help, even if there are no complete answers to the understanding, to clarify its importance. The above article means that the word “Knock for Knock agreement – (economy / business)” comes from different sources, languages and websites that you can see in the source menu. To learn more, you can buy a glossary book in the bookstore or online bookstore site. For example, the purchase of a book from Gramedia KNOCK FOR KNOCK AGREEMENT (Mutual Risk) is an inter-company agreement with an agreement by which the insurers who hold the agreement agree not to use each other`s rights against their neighbors.
In Indonesia, this provision only applies if the vehicles that meet are covered in the same way by all risk conditions or by all Risk Coverage plus TJH up to III. If an insurer pays, for reasons of administrative ease, for compensation for damage to the car of its policyholder instead of suing the person responsible for the accident for all relevant costs, an actual claim is recorded against the insurance file of that policyholder. In this way, knock for knock agreements can lead policyholders to unexpectedly find that they face higher premiums when extending their insurance, regardless of who is liable for an accident in which they participated. The answer is that you can. In auto insurance, there is one of the guarantees of an expansion risk in the form of coverage against third parties, which is referred to as “Legal Liability Against Third Parties” (TJH III) or Third Party Liability (TPL). . . .