Final answer:
A contract without input or alteration from the insured and entirely drafted by the insurer is known as a contract of adhesion, which typically favors the insurer.
Step-by-step explanation:
A contract that is drafted by an insurer and receives no input or alteration from the insured is considered a contract of adhesion. This type of contract is common in the insurance industry. The insurer provides the terms of the policy, and the insured has little to no ability to negotiate the terms; they must either accept the contract as is or reject it altogether.
Contracts of adhesion tend to favor the insurer since they are the ones who set the terms. It’s important for the insured to thoroughly read and understand the policy since they are legally bound by it once signed, even though they did not have a hand in its creation.