difference-in-conditions insurance

Difference-in-conditions (DIC) insurance is a type of policy designed to cover property and liability losses that are not included in basic insurance contracts. It can be purchased to cover virtually any peril, including events like earthquakes and floods, though it is subject to deductibles and specific exclusions. DIC policies are often written on an all-risk basis. International businesses may utilize DIC insurance to achieve consistent coverage across all countries where they operate and to secure higher policy limits than might be available from domestic insurers in those foreign nations. This type of insurance helps fill gaps in an existing insurance program.1