The Sailing World Cup Miami Round is under way this week and this event will be the first of two regattas by which US sailors will be selected for the 2016 US Olympic team in eight of the ten Olympic sailing classes.
Among the usual gobbledegook you find in NORs and SIs, the table below caught my eye. It defines the minimum third-party liability you need to enter each of the round of the Sailing World Cup.
Can anyone explain to me why it varies so much from country to country?
On the one hand, Australia - 5 million dollars and UK - 3 million pounds
On the other hand, USA - 300,000 dollars
And don't tell me the answer is exchange rates. The Aussie dollar and the GB pound are not THAT weak against the US dollar!
I thought the USA was the home of litigiousness, and ambulance chasing lawyers willing to sue on a contingency basis for personal injury, and outrageously high awards of damages (as well as being the home of the brave and the free, of course.)
Why do you need so much higher liability insurance to compete in the UK, Australia or Europe?