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§ 8-315. Waivers of liability void against public policy

West's Annotated Code of MarylandInsurance

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 8. Entities that Act as Insurers
Subtitle 3. Third Party Administrators (Refs & Annos)
MD Code, Insurance, § 8-315
§ 8-315. Waivers of liability void against public policy
Currentness
In general
(a) A provision in an agreement or instrument that relates to the administration of a plan that purports to relieve an administrator from responsibility or liability for a duty or requirement imposed under this subtitle is void as against public policy.
Insurance for administrators
(b) Notwithstanding subsection (a) of this section:
(1) a plan may purchase insurance for its administrators or for itself to cover liability or losses that occur because of an act or omission of an administrator if the insurance allows recourse by the insurer against the administrator in a case of breach of responsibility under this subtitle by the administrator;
(2) an administrator may purchase insurance to cover the administrator's possible liability under this subtitle if the insurance is obtained for and paid from the administrator's own account; or
(3) an employer or an employee organization may purchase insurance to cover possible liability of one or more persons that act as administrators with respect to a plan.

Credits

Added by Acts 1995, c. 36, § 1, eff. Oct. 1, 1997.
Formerly Art. 48A, § 688.
MD Code, Insurance, § 8-315, MD INSURANCE § 8-315
Current through legislation effective through June 1, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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