Knock For Knock Agreement Malaysia

The KFK agreement continued to be improvised with the introduction of NO-fault Own Damage. In doing so, the owner of the vehicle involved in an accident, which he has no fault of, can argue against his own insurer without losing his NCD. Commonly known as ODKFK (Own Damage Knock for Knock) As such, I chose to have a clean damage – hit to hit (OD-KFK) Pretend with my own insurance without losing the NCD, because it was clearly the fault of the driver who hit me from behind. However, snack agreements have been criticized by insurers as unfair to the party not responsible for an accident. If, for reasons of administrative facilitation, the insurer pays to repair the damage suffered by its own insured instead of prosecuting the person responsible for the accident for all relevant costs, an effective claim is claimed against the insurance card of that policyholder. In this way, “toc-to-knock” agreements can lead policyholders to unexpectedly realize, when renewing their insurance, that they should expect higher premiums, regardless of the liability of an accident in which they participated. A knock-for-knock agreement is an agreement between two insurance companies that, if the policyholders of both companies suffer losses in the same case of insurance (usually a car accident), each insurer pays the losses incurred by its own policyholder, regardless of who is responsible. “Knock for knock” is also used in a specific analog sense, for example the one that follows, quoted in “Law at War,” by the US Army website [1]: KFK means Knock for Knock. The KFK agreement is signed by all Malaysian insurance companies, all insurers refrain from exercising their respective transfer rights, regardless of the insured guilty. Example: an accident between Vehicle A and Vehicle B. Vehicle B is clearly responsible, which is why the normal route for Vehicle A is to file a complaint against the insurer of Vehicle B for external damage (TPPD), which is tedious and time consuming.

The other quicker option would be to submit an application under Own Damage (OD), provided vehicle A has a full directive. A claim you have made against a third-party insurer for compensation costs in the event of an accident that occurs under a CCA agreement.