BACK IN THE DAY.... US Sailing did not have a partnership with any insurance companies. Regatta liability insurance was available through one underwriter. cost was about 350 for on the water and another 350 for beach/liquor liability. You had one option. Back then... States did not require your group to provide their own insurance... they covered it for you ... so... it was just 350 for on the water coverage... Times are tight.... they refuse to do that these days... if you want to use the state park... you need them to be named insured on a policy.
What you bought back then was coverage for the RC and its actions. If you borrowed your buddies power boat to run marks for you with your volunteers (they get hurt pulling up an anchor etc etc .... when it hit the fan.... It was your buddies insurance that covered any liability for his boats actions.... It wound up on HIS credit report etc etc. Some of us thought that was a big ask when you were borrowing a powerboat and getting a volunteer to run races.
US sailing worked with Gowrie and developed the burgee policy. Solved this problem. The other company soon matched many of the benefits.... ITS AMERICA... competition is good. You pick what you want or can afford... Just like you decide on how well off your insurance companies finances must be. (See AIG and bailout for the counter factual)... Is the value worth the cost... YMMV... THE POINT IS.... IT was US Sailing that sorted this out and gave us choice.
Back in the day.... your PRO, would volunteer to be the one responsible on the RC and take on all of the liability.... He basically trusted the host club to cover his butt ests.... (versus his home owners policy...) (You can imagine how those conversations worked out between host club and pro with regard to liability coverage... HUH!!!! WTF who needs this BS).... SO... US Sailing decided to purchase liability coverage for their PRO's who pass their certification and stay current with the continuing ed of being a PRO...
You may have noticed the liability coverage requirements for the A class and the F18 worlds coming up in the next two months... You may have noticed that MANY of the owners are in a scramble to purchase the proper amount of coverage and CAN'T from their underwriter. .... News flash... these requirements are WORLD WIDE and have been in place for some time.
Back in the day....you had the sailors on Olympic campaigns who needed world wide coverage. Boat US writes a lot of policies but did not want to touch Olympic sailing campaign requirements. ... Nowadays...the current OD program uses those World Wide liability limits... (HMMM... I wonder how that happened.)
When you race overseas...and bring your boat... the OD policy covers you.... Moreover, the Olympic guys will frequently charter a spare boat from their training partner... News flash... YOU have to get your own liability coverage. Usually for each country you might race in in the EU.. So... US Sailing took what one of the teams had worked out... expanded on the RFP to include you loaning your boat to another plus chartering your boat and your charters, PLUS coach boat insurance... (yep... to be on the race course within 300 yards of the racing... you have to carry a million bucks of coverage plus some other requirements for the driver) with that underwriter.
This OD coverage was just for the Olympic classes... and now the underwriter had made it the one design insurance policy that you now see. Don't plan on doing the Worlds in the US or abroad .... there are cheaper policies. YMMV.
Bottom line. that is the record... whether it is worth it to you is your call.
(he he... maybe we should ask the Obama passed Consumer Protection Board to take a look at boat insurance policies out there and generate the single sheet simple form so you know what you are buying... many people seem confused by the choices in the marketplace)
