OceanGate
Is OG insured?
Unclassified vessel so likely not. If you were a public liability insurer would you insure a home made deep water submersible?
Does OG have any assets worth suing?
Estimated operating revenue of USD10m per annum and 45 staff, having just had to mount a desperate deep sea rescue probably not
Would the disclaimer work?
Governed by Bahamas law, for which the ultimate court of appeal is the Privy Counsel[1] which must apply Bahamian law, but as a common law jurisdiction assume it will be broadly along the same lines as English law for things like general contractual liability.
What does disclaimer do?
Inherent risks
Catalogues all kinds of “inherent” risks which may arise as a result of expedition. Includes those of experimental, in approved vehicle.
Negligence of Released Parties
The Release purports explicityly to exclude the negligence of Released Persons
“although OceanGate will take steps to provide me with adequate training, equipment and skilled personnel, I acknowledge ... ”
This acknowledges a general duty of care as regards hull construction and integrity, and operator competence. If it transpires OceanGate has not taken reasonable steps (it will be more, in practice, than just “any steps”), then the OceanGate has repudiated its own obligations underrelease of
Some authority that you cannot disclaim liability for death/personal injury at common law.
Bit what was the negligence? Good luck figuring that out. Most likely an omission rather than a commission — failing to check the hull integrity, not noticing stress fractures and so on.
Puts into perspective our banking disclaimer, though, doesn’t it.