Final answer:
The clause in a contract that prevents the insurance company from modifying the contract after it has been issued is known as the non-modification clause or the no-modification clause.
Step-by-step explanation:
The clause in a contract that prevents the insurance company from modifying the contract after it has been issued is known as the non-modification clause or the no-modification clause.
This clause ensures that the terms and conditions of the contract remain unchanged once it has been issued, providing stability and certainty for all parties involved.
For example, if an insurance policy specifies a certain premium and coverage, the non-modification clause would prevent the insurance company from changing the premium or coverage without the consent of the policyholder.