Within budgetary appropriations and market availability, the Treasurer, in the Treasurer's sole discretion, may purchase commercial insurance to provide coverage, in whole or in part, under the Maryland Tort Claims Act. If the Treasurer elects to purchase commercial insurance under §A, above, the: Policy limits, terms, and conditions of the commercial insurance shall determine coverage and establish the limitation of State liability; and Payment limits, terms, and conditions applicable to the Treasurer's self-insurance program under this chapter shall determine the coverage and establish the limitation of State liability for purposes of the State's deductible or self-insured retention, if any, under this commercial insurance.