(a) There shall be a provision that the policy, or the policy and the application therefor if a copy of the application is endorsed upon or attached to the policy when issued, shall constitute the entire contract between the parties and that all statements contained in the application, in the absence of fraud, shall be deemed representations and not warranties.
(b) At the option of the insurer, there shall be a provision that no agent shall have the power or authority to waive, change, or alter any of the terms or conditions of any policy, except that at the option of the insurer the terms or conditions may be changed by an endorsement or rider signed by an authorized officer of the insurer.