What is the name of the provision that states an agent cannot change a policy or waive its provisions?

The correct answer is the provision known as the "Entire Contract." This provision implies that the insurance policy represents the complete and only agreement between the insurer and the insured. It establishes that any modifications or amendments to the policy must be formally documented in writing and often requires the signature of an authorized representative of the insurance company. This prevents agents from independently altering the terms of the insurance contract or waiving its provisions without proper authority, ensuring that the insured is protected and fully aware of the terms that govern their coverage.

In contrast, the insuring agreement outlines the scope of coverage and the risks that the insurer agrees to cover. The grace period is a provision that allows the policyholder additional time to make a premium payment without losing coverage. The policy change clause details the process by which changes can be made to the policy but does not state that an agent cannot make changes independently, which is the primary concern addressed by the entire contract provision.