Final answer:
Crossing over occurs in meiosis but not in mitosis. It increases genetic diversity by creating new combinations of alleles on the resulting chromosomes.
Step-by-step explanation:
In meiosis I, crossing over occurs between nonsister chromatids, leading to the exchange of genetic material. This process is unique to meiosis and does not occur in mitosis. Crossing over is an important event in meiosis as it increases genetic diversity by creating new combinations of alleles on the resulting chromosomes. In mitosis, there is no formation of tetrads or crossing over, which is why it does not result in genetic recombination.