I think people should have to take insurance out for this kind of thing (or pay out of pocket).
Idiots here in town (usually, but not always tourists) manage to get lost in our mountains (which boggles the mind, simply look west and see a sea of houses—head THAT WAY, MORON). I see the helos flying over, etc. All because they took the tram to the crest wearing loafers, then decided to bushwhack their way down a 4000ft pretty shear west face. Bad choices lead directly to situations like this, the person making the choice should be ultimately responsible.
In this particular case, having rescue insurance would be a tiny price to pay. It would likely have cost a small fraction of 300k. Well within the means of people capable of affording to fit out an ocean-going yacht. A few thousand bucks, I bet.
Again, we're not talking about a fishing vessel—fishermen in waters where a given country would do a rescue pay taxes and fees to fish, that's part of the deal.
This is recreational, it's fluff.
As such, I think it's the least they can do to be required to carry some insurance. Remember, not only does rescue cost money, it actually risks the lives of other people. If the boat had been found floundering in a storm, you can bet that a rescue guy on the helo would have taken a swim to try and save her, and potentially been killed. If fishermen, etc in some poor country don't have insurance, then their governments could pay back any rescues they lack the capability to do themselves.
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