Which individual has the authority to make changes to an insurance policy?

The authority to make changes to an insurance policy typically lies with the insurer, which means that an executive officer of the insurance company holds the power to authorize policy changes. This is because policy modifications can involve significant underwriting decisions and potential implications for the company's overall risk exposure and financial stability, which requires approval from someone in a senior management position.

The insured, while they can request changes to their policy, do not have the authority to implement changes unilaterally. Instead, their requests must be processed and approved through the established procedures of the insurance company.

An agent acts as a representative of the insurance company and can facilitate communication and requests on behalf of the insured, but they do not possess the authority to make changes independently without the approval of the company. Therefore, while agents can work with clients regarding their policies, the ultimate decision-making power resides with company executives.

This understanding helps clarify the roles in the policy change process and reinforces the structured nature of insurance operations, ensuring accountability and consistency in how such changes are handled.