Every policy of insurance covering the liability of the employer for workers' compensation shall cover the entire liability of the employer to his employees covered by the policy or contract, and be deemed to contain the following provisions:
1. That as between the employee and the insurance carrier the notice to or knowledge of the occurrence of the injury on the part of the employer shall be deemed notice or knowledge of the insurance carrier.
2. That jurisdiction of the employer shall be jurisdiction of the insurance carrier.
3. That the insurance carrier shall be bound by and subject to the orders, findings, decisions and awards rendered against the employer for payment of compensation.
4. That the insolvency or bankruptcy of the employer and his discharge therein shall not relieve the insurance carrier or workers' compensation pool from payment of compensation for injuries or death sustained by an employee during the life of the policy or contract.