No covered party may avoid liability by means of a conveyance of any right, title, or interest in real property; or by any indemnification, hold harmless agreement, or similar agreement. However, the provisions of this chapter do not:

1. (1) Prohibit a person who may be liable from entering into an agreement by which the person is insured or is a member of a risk retention group, and is thereby indemnified for part or all of the liability;
2. (2) Prohibit the enforcement of an insurance, hold harmless, or indemnification agreement; or
3. (3) Bar a cause of action brought by a person who may be liable or by an insurer or guarantor, whether by right of subrogation or otherwise.

Source: SL 1988, ch 290 , § 10; SL 1992, ch 260 , § 13.