/nɑk fɔr nɑk əˈɡriːmənt/ – Phrase
Definition: Thỏa thuận trao đổi bồi thường tự chịu trách nhiệm.
A more thorough explanation: an agreement between two or more insurance companies that each will pay the claims of their own clients arising from the same accident, usually a motor accident
Example: Knock-for-knock agreements between insurers can seem unfair on the party not responsible for an accident.