| 单词 | kiting |
| 释义 | kiting kiting1.Seekite. knock-for-knock agreement An agreement between motor insurers that they will pay for their own policyholders’ accident damage without seeking any contribution from the other insurers, irrespective of blame but provided that the relevant policies cover the risk involved. The agreement works on the principle that, having paid for their own policyholder’s damage, insurer A refrains from claiming the payment back from insurer B, even though it may be clear that A’s client was to blame for the accident. On another occasion the roles might be reversed; insurer B then refrains from claiming from A even though A’s client was responsible. Before the knock-for-knock agreement, insurers found they were exchanging roughly similar amounts in payment of these claims. The agreement has cut down the expensive administration of claim and counterclaim, which has helped to reduce the cost of premiums. |
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