Section 50-6-408 - Mandatory policy provisionsAll policies insuring the payment of compensation under this chapter, including all contracts of mutual, reciprocal, or interinsurance, must contain a clause to the effect that:
(1) As between the employer and the insurer or insurers, the notice of or knowledge of the occurrence of the injury on the part of the insured employer shall be deemed notice or knowledge, as the case may be, on the part of the insurer or insurers;(2) Jurisdiction of the insured for the purpose of this chapter shall be jurisdiction of the insurer or insurers; and(3) The insurer or insurers shall in all things be bound by and subject to the awards, orders, judgments or decrees rendered against the insured employer, whether a formal party to the proceedings or not.Acts 1919, ch. 123, § 44; Shan. Supp., § 3608a194; Code 1932, § 6898; impl. am. Acts 1980, ch. 534, § 1; T.C.A. (orig. ed.), § 50-1208.