Dave, This is not an indemnity release. Its more of a hold harmless. An indemnity makes whole someone else that has been injured due to your negligence. The club should require all racers to sign a tender defense, indemnity and additional insured agreement to protect their interest. As to the question to coverage, unless excluded under section 2 of the Home Owners policy, each kid is protected by his parent's policy. However, several polices have excluded some sail boat racing. ( talk to Stank on that one ), which would nullify coverage for liability. The problem here, is that Florida is a comparative negligence state, which means even if the parents allow the kids to race in windy or dangerous conditions, liability can also be attirbuted back to the OA for allowing the race to continue.

Forrest
I-20

Dave...in reading your second post be careful for what you ask. Are you inquiring as to first party damages...( bodily injury to the child ) or third party damages ( injury or damage to somoeone else and or property ) each state has their own negligence doctrine, and releases and race decisions are based on those doctrines. What might work in North Carolina wouldn't here because of the liabilites for injury and damage as equated by their statue doctrine.