Posted by Ken Kurtis on June 19, 2002 at 15:45:45:
In Reply to: PADI Professional Insurance posted by tleemay on June 19, 2002 at 14:42:37:
The short version of this is that PADI's having underwriter problems. Apparently their 2001-2002 underwriter also was the underwriter for Peter Hughes and is going to take perhaps a $30 million hit on the Wave Dancer tragedy.
I've heard that the underwriter is getting out of the boat/scuba business and I've also heard that they'll simply raise everyopne's rate to start recouping their outlay. (Given the relative small size of the insurance pool, the increase could be substantial.)
In a related development, Al Hornsby has resigned his position at Skin Diver to return to PADI, dealing specifically with Insurance & Legal (not sure what his exact title is). But his first mandate is apparently to address this situation.
No matter what happens, it's not going to be the smooth sailing that's been the case in years past.
Ken Kurtis
NAUI Instr. #5936
Co-owner, Reef Seekers Dive Co.
Beverly Hills, CA