MLchartDataset catalogue

Knock-for-knock indemnity

Term · Insurance and risk management · MLC-T-INS-001949

A contractual agreement, typically between parties involved in offshore oil and gas operations, where each party agrees to indemnify the other for injury or damage to its own personnel and property, regardless of fault. This simplifies claims handling by avoiding complex cross-litigation. It is common in drilling contracts.

Table 1. Record
IdentifierMLC-T-INS-001949
FieldInsurance and risk management
SubjectCommercial Liability
Record as JSON 
{
  "id": "MLC-T-INS-001949",
  "term": "Knock-for-knock indemnity",
  "field": "Insurance and risk management",
  "definition": "A contractual agreement, typically between parties involved in offshore oil and gas operations, where each party agrees to indemnify the other for injury or damage to its own personnel and property, regardless of fault. This simplifies claims handling by avoiding complex cross-litigation. It is common in drilling contracts.",
  "subject": "Commercial Liability",
  "url": "https://mlchart.com/terminology/insurance/knock-for-knock-indemnity/"
}

Record 1,871 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.