Crosscover

Crosscover refers to a type of insurance policy that provides coverage for a specific risk or asset that might not be fully addressed by a primary insurance policy. It is often used to supplement existing coverage and fill gaps, ensuring that a policyholder is adequately protected. This can manifest in various forms depending on the type of insurance. For instance, in property insurance, a crosscover might address specific perils not included in a standard homeowner's policy, such as certain types of water damage or earthquake coverage in regions where it's not typically included. In the context of liability insurance, a crosscover could offer additional limits or broaden the scope of coverage beyond what is provided by a general liability policy. This is particularly common in business insurance where complex operations may require specialized protection. The term can also be used in the context of professional liability, where a crosscover might extend coverage to additional services or personnel not originally listed in the primary policy. Essentially, crosscover is designed to enhance or broaden existing insurance protection, providing an extra layer of security against unforeseen events or specific exposures. The exact terms, conditions, and scope of a crosscover policy will vary significantly based on the insurer and the specific needs of the insured.