knock-for-knock principle

knock-for-knock principle

The principle which acknowledges the mutual un-costed benefits between universities in the UK and their teaching hospitals. The term comes from the car insurance industry in which each insurer pays the losses sustained by its own policy-holder, regardless of who was responsible for an accident, thereby eliminating the potentially expensive exercise of pursuing recovery from another insurer.
References in periodicals archive ?
Other sailors believe in the knock-for-knock principle. They accept that small incidents are a part of the sport; like bumping into other pedestrians as you walk down a busy street or bumping trolleys in the shopping centre.