Mark, if I remember correctly, I just turn in my copy with the registration form. Never paid attention to what the other sailors did. Since we all sign the Release and Indemnity Agreement, see the following on the Div. 4 site,
http://www.div4.hobieclass.com/default.asp?MenuID=Schedule/c10852/3251, we are individually responsible. This is the hold harmless agreement for HCA, IHCA, and Event Organizers, etc. The fact that the individual sailors state they have Liability Insurance is just an indicator of their responsiblity, similar to Auto or Home Owners insurance.
Caleb