Employer to disclose insurer

(1) If the employer becomes insolvent and is ordered to pay compensation under this Act, he shall, if requested disclose whether he is insured against personal injury to or death of the workman employed by him and, if so insured, the name and address of the insurer and the amount for which he is insured. (2) When the insurer indemnifies an employer against liability to pay compensation and has used or uses that employer’s name or has acted on his behalf in any proceedings under this Act, that insurer shall be bound by the decision given upon those proceedings in the same manner and to the same extent as the employer accordingly, except that the liability of the insurer shall be limited by the terms and conditions of the policy of insurance subsisting between him and the employer.