A set-function $f$ is monotone submodular if for all $A,B$, $$ f(A) + f(B) \geq f(A \cup B) + f(A \cap B). $$
A stronger property is $$ \begin{multline*} f(A) + f(B) + f(C) + f(A\cup B\cup C) \geq \\f(A\cup B) + f(B\cup C) + f(A\cup C) + f(A \cap B \cap C). \end{multline*}$$ Taking $C = A\cup B$, this property implies monotone submodularity.
Is this property known?
Background
This property came up while trying to characterize coverage functions. Given some weighted universe $U$ (all weights are non-negative) and a family $X$ of subsets of $U$, the coverage function $f(S)$ is defined for $S \subseteq X$ as the total weight of elements covered by sets in $S$. The function $f$ is always monotone and submodular. The converse isn't true.
The property in question implies that $f$ is a coverage function in the case $|X| = 3$. Similar, more complicated properties work for larger $X$. All these properties are satisfied by coverage functions, so this is a complete characterization.