An article taken apart, folded or telescoped in such a manner as reduce its bulk at least 33-1/3% below its assembled bulk.

Dictionary defines the term “knock for knock” ass an agreement between auto insurers that in the event of an accident each insurance company will pay for the damage to the vehicle insured with it, without attempting to establish blame for the accident. It is an Agreement between two or more parties that each will not exercise claims or subrogation rights against the other but instead, will pay their own losses, even though the other party may be legally responsible for a loss. Knock-for-knock agreements are attempts to save administrative and legal costs which would be involved in pursuing subrogation rights and are based on the assumption that, in the long run, no party would achieve significant net subrogation recovers.

The unit of speed equivalent to one nautical mile, or 6,080.20 feet per hour or 1.85 kilometers per hour.

All rigors of KYC process are meant to weed the bad, illegitimate customers out and to protect the good, legitimate ones. Knowing a customer is a basic need of insurance companies. KYC Process involves identifying, validating and verifying the customer’s information so as to ensure that the customer is genuine and legitimate and does not have any fraudulent intentions. The KYC involves collecting the customer’s photograph, identification rpoof and address proof and verifying the same. This may involve photo id proof such as Passport, Driving Licence, PAN Card, Voter Identity Card, Employee Identity Card, Senior Citizen Card, Adhar Card. As for address it may be Electricity Bill, Bank or Post Office SB A/c Passbook, Telephone bill, Lease Agreement, Mobile Bill, Letter from Employer mentioning Employee’s address, Ration Card, Passport, Cooking Gas Connection Card etc.