As to the original question...its mow moot. PADI and DAN have formed an alliance and PADI will no longer be offering their insurance (not liability, thats still V&B). Here is the Press Release..
When two industry leaders join forces, something great is bound to transpire. At the PADI Member Social kicking off the DEMA Show 2006 in Orlando, Florida, USA, the Professional Association of Diving Instructors (PADI) announced a new alliance with Divers Alert Network (DAN).
Joining together in the interest of increasing safety for all divers, the collaboration brings together the complimentary elements of PADIs expertise in training and education, and DANs expertise in emergency assistance, insurance, medicine, research and dive safety training. As of 31 December 2006, the PADI-endorsed Diver Protection and Student Protection programs will be discontinued, and on 01 January 2007, DAN will be PADIs preferred provider of dive accident insurance. PADI will also encourage the use of DANs Student Membership Program and actively support DANs Recompression Chamber Assistance Program.
The alliance between PADI and DAN represents two of the most recognized brands in the diving industry bringing their respective strengths together to create a stronger network for all divers to utilize. Between DAN and PADI, divers have access to every level of dive training from entry- through professional-level, a comprehensive dive accident insurance program, dive safety training, information and safety resources, and 24-hour emergency assistance. The value of dive accident insurance is well-known throughout the industry, and it benefits all to encourage every diver to carry it. At no cost to the student or instructor, the DAN Student Membership program provides an excellent risk management tool for every dive professional and operation, as it offers an extra level of protection to the students they teach, the importance of which is addressed throughout PADIs professional-level training.
PADIs support of DANs Recompression Chamber Assistance Program (RCAP) comes from an understanding of the importance of ensuring the proper care and treatment of injured divers. Established in 1993, RCAP was developed as a means to assist recompression chambers through technical and educational support, as well as equipment for facilities in remote locations.
Professional-level divers carrying liability insurance through Vicencia & Buckley are not affected by this change. PADI will continue to work closely with Vicencia & Buckley to offer PADI Professionals and Dive Operations comprehensive liability insurance.
The alliance between PADI and DAN is a shining example of how industry organizations working together can benefit all divers, commented Drew Richardson, President and Chief Operating Officer of PADI Worldwide. PADI focuses on the core competencies of excellence in training and diver education, while providing PADI Members access to DAN's world renowned diver safety programs.
Dan Orr, President and Chief Executive Officer of DAN adds, PADI has always been a tremendous supporter of DAN, and this alliance represents the continuation of that support, as well as an unprecedented opportunity for us to further our mission. We are thrilled at the prospect of introducing so many divers to the resource DAN can be for them, and we look forward to welcoming into the fold all divers new to our organization and providing them the many benefits of DAN membership and insurance.
PADI is the worlds largest recreational dive training, certification and membership organization. PADI Members (dive centers, resorts, educational facilities, instructors, assistant instructors and divemasters) issue nearly 1,000,000 certifications worldwide each year, making underwater exploration and adventure accessible to the public, while maintaining the highest industry standards for dive training, safety and customer service.
Divers Alert Network (DAN) is a 501(c)(3) non-profit medical and research organization dedicated to the safety and health of recreational scuba divers and is associated with Duke University Medical Center. Founded in 1980, DAN has served as a lifeline for the scuba industry by operating the only 24-hour diving emergency hotline, a lifesaving service for injured divers. Additionally, DAN operates a diving medical information hotline, conducts vital diving medical research, and develops and provides a number of first-aid and continuing education programs for everyone from beginning divers to medical professionals.
. Long story short....the anchor went through my finger nail and fractured the bone (aka - open wound compound fracture). The visit to the ER in the Keys ended up costing me about $1000 (which was the deductable of my primary insurance). DAN paid the full amount right away and without any hassles. So I now feel obligated to recommend DAN to every diver I meet 
