Glossary

A cross-complaint is an action brought by the defendant against the plaintiff or brought by one party against a co-party (such as a defendant against a codefendant).

A cross-defendant is the party named as a defendant in the cross-complaint.

Cross-docking is a warehouse's value-added service that assigns the responsibility for taking in shipments from one carrier and rerouting them quickly to another means of transport that carries the property on the next leg of its route.

A cross-indemnity agreement is a form of indemnity that is often used in energy industry and chemical industry contracts.

Cross-liability coverage is coverage in connection with a suit brought against an insured by another party that has insured status under the same policy. Cross-liability coverage is provided as an intrinsic feature of the standard commercial general liability (CGL) policy by means of the "separation of insureds" condition. Some umbrella and professional liability policies contain insured-versus-insured exclusions that eliminate cross-liability coverage.

A cross-liability endorsement is an endorsement that alters or clarifies the application of a liability policy to cross-liability claims.

Cross purchase refers to a form of business life insurance in which each member of a group purchases insurance on the other members of the group to ensure continuance of the business in the event one of the principals becomes disabled or dies.

Crowdfunding is a process that uses the Internet and related social media to offer a company's stock to investors.

Cumis counsel is legal council selected by an insured rather than the insurer to represent the insured in a liability suit.

Cumulative collusive excess cover refers to a reinsurance contract under which the ceding company further reduces its net exposure that has been reinsured under a share agreement.