Protects companies against financial loss on the death or disability of a valued employee, or by partnership to provide founds with which to buy out the interest of such partner on his death or disability.
King’s (Queen’s) Bench
One of the superior courts of common law in England. Derives its mane from fact that king or queen used to sit there in person.
Knock-For-Knock Agreement
Agreement between certain automobile insurers whereby each agrees to pay their insured’s collision claim and waive any recovery rights against the other insurer.