Scott L
Contributor
Does PADI require that instructors/DM's and instructor shops acquire coverage only through their program?
PADI getting sued over Insurance Program
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No.
Proof of liability insurance coverage is required to for a PADI pro to remain in Teaching Status in certain areas. Insurance is recommended but not required for instructors or DMs in other areas.
AFAIK the PADI dive shops are not required to effect their shop insurance through the PADI sponsored plan.
Scott L
Contributor
I guess it boils down to regulatory compliance. Lexington Insurance operates as a surplus lines carrier most often, as such, they operate without the normal oversight of the more typical admitted carrier classification. I am a career insurance broker but have no idea if profits are regulated within the surplus lines arena.
At the very least, the lawsuit has the potential to cast PADI in an unfavorable price-gouging light...
At the very least, the lawsuit has the potential to cast PADI in an unfavorable price-gouging light...
How much is the annual fee for PADI DM insurance?
The amount I've heard can't possibly be correct.
The amount I've heard can't possibly be correct.
The amounts that you have seen are for dive shops/centers, not DM's or Instructors. Most dive shops/centers have much higher premiums (for higher coverages) as well as their boat insurance premiums, etc. than what was quoted.
It is a LOT of wampum.
I have not seen or heard anything ... but I wonder if the Professional Liability "insurance" that DM's and Instructors are required to purchase and maintain also have a "PADI pays $XXX,XXX.XX as a self-retention / self-insured" before a real insurance company takes over?
It would be "interesting" to see what PADI actually pays for this "Master Policy" and then how much they take in ("unjust enrichment", I think Mr. Lesser called it) using DM's and Instructors as "additional insureds" ???
All of this will need to be proven in a court of law .. not in the court of public opinion.
(Just remember that you read it here first ... but expect to see a PADI memo in the next few days stating the same thing.)
Scott L
Contributor
I doubt their bus stop benches feature pictures of attorneys like 90% of those in S. Florida...
Exactly and your divers may tend to take the idea of suing someone due to their own stupidity less seriously than ours. We make it too easy to sue someone. I'd like to see the insurance requirement dropped. If you teach your students well it is less likely they'll get hurt. I;d like to see the courts say that the waivers we have them sign are actually worth something.
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