[Solved] A naked option write is a conservative strategy. Breach of Contract: A violation of any of the agreed-upon terms and conditions of a binding contract. Co-Insurance Clause: A clause that may be inserted in an insurance policy that renders the insured an insurer for a part of the loss if the insured fails to maintain insurance coverage of not less than a specified minimum amount or percentage of the value of a property. Indemnity: A contractual promise to compensate for loss or damage incurred by the promisee. Property Worth: The market value of an asset or property, determined by factors such as location, condition, and market trends.