§ 54-a. Security where coverage is in issue. Where the issue of policy coverage is raised by a carrier in any hearing or proceeding before the board, and an appeal by the carrier, or the making of an application for review is made, although an award is made to a claimant therein against the employer and carrier, the chairman may, nevertheless, require the employer to deposit the amount of said award or furnish such security therefor as may be deemed satisfactory by said chairman. If the employer shall fail to make such deposit or give such security, the award may be enforced promptly against said employer by the entry of judgment by and in the name of the chairman, for and in behalf of such claimant in accordance with the provisions of section twenty-six hereof. In the event that the award made as against the carrier is finally affirmed, the employer shall be entitled to the return of said security deposited or, if the said award has been paid, to an award by way of reimbursement against the said carrier for the amount of money paid upon the award or judgment entered thereon to the claimant. If the award against the carrier is finally reversed on appeal, then the carrier is relieved of liability and not otherwise.