These risks include but are not limited to personal injury and death and damage to and or loss of equipment and the sailing vessel itself through some failure of the vessel, collision with other vessels, debris, or animals as well as loss occasioned by adverse weather conditions and seas.Whew! It doesn't mention Gigantic Sea Serpents. I can still sue somebody if one of those jackasses tries to get me. Sea Serpents "might" be considered animals but if we were in court I'd argue that mythical beasts are an entirely separate genus (or kingdom or phylum or whatever).
Off to Hawaii, Sea Serpents be damned.