(i)to cover liability in respect of the death, arising out of and in the course of his employment, of the employee of a person insured by the policy or in respect of bodily injury sustained by such an employee arising out of and in the course of his employment [other than a liability arising under the Workmen's Compensation Act, 1923,] [Inserted by section 74, Act 100 of 1956, (w.e.f. 16-2-1957).] in respect of the death of, or bodily injury to, any such employee-