29 U.S.C. § 1110. Exculpatory provisions; insurance

1. (a)
   (a)Except as provided in sections 1105(b)(1) and 1105(d) of this title, 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 part shall be void as against public policy.
2. (b)
   (b)

   Nothing in this subpart ¹ shall preclude—

   1. (1)
      (b)(1)a plan from purchasing insurance for its fiduciaries or for itself to cover liability or losses occurring by reason of the act or omission of a fiduciary, if such insurance permits recourse by the insurer against the fiduciary in the case of a breach of a fiduciary obligation by such fiduciary;
   2. (2)
      (b)(2)a fiduciary from purchasing insurance to cover liability under this part from and for his own account; or
   3. (3)
      (b)(3)an employer or an employee organization from purchasing insurance to cover potential liability of one or more persons who serve in a fiduciary capacity with regard to an employee benefit plan.