§386-126 Insolvency of employer not to release insurance carrier. Every policy and contract shall contain a provision to the effect that the insolvency or bankruptcy of the employer and the employer's discharge therein shall not relieve the insurance carrier from the payment of compensation for an injury suffered by a covered employee during the life of the policy or contract. [L 1963, c 116, pt of §1; Supp, §97-125; HRS §386-126; gen ch 1985]