Bankruptcy, etc., of insured persons not to affect certain claims by third parties

Where a certificate of insurance has been issued under section 4 (3) of this Act, to the person by whom a policy has been effected, the happening in relation to any person insured by the policy of any such event as is mentioned in section 10(1) or (2) of this Act shall, notwithstanding anything in this Act, not affect any such liability of that person as is required to be covered by a policy under section 4(1)(b) or (c) of this Act, but nothing in this section shall affect any rights against the 30 (Third Party Risks) insurer conferred by this Act on the person to whom the liability was incurred.