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If the financial markets are semistrong form efficient, then:
Insurance Policy
A contract between an insurer and policyholder specifying the claims the insurer is legally required to pay.
Co-insurance Clause
A provision in an insurance policy stating that the insurer and the insured will share losses covered by the policy in a specified ratio.
Fireproof
A property of material or construction that provides resistance to fire, preventing or delaying the spread of fire.
Insured
The individual or entity covered by an insurance policy, who is entitled to benefits in case of a covered loss.
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