Exculpatory provisions; insurance

(a) Exculpatory provisions void Any provision in an agreement or instrument which purports to relieve a fiduciary from responsibility or liability for any responsibility, obligation, or duty under this title shall be void. (b) Insurance In accordance with section 101(e), the sums credited to the Fund shall be available to pay administrative expenses which may include, at the discretion of the Executive Director, the purchase of insurance to cover potential liability of persons who serve in a fiduciary capacity with respect to the Fund, without regard to whether a policy of insurance permits recourse by the insurer against the fiduciary in the case of a breach of a fiduciary obligation.