I just got the RecSea housing as well as an S95. I will be using it in Cozumel in about a month. Much, much, less weight than my other system.
Here in the US, I can put it on my insurance policy for my house, which I will do this week. This covers me no matter what happens. I believe that you can also get similar insurance via DAN.
Not sure what will happen when you submit a claim to RecSea; however, I question if they will cover your camera.
I had a leakage problem when my Ikelite housing was damaged by the TSA when they inspected my luggage. My housing cracked and leaked. Fortunately, I caught the leakage before the camera got damaged. It was clearly the fault of the TSA who did not repack the housing in my luggage. I had to pay for the repair...couldn't convince anyone else that they had to pay. $400US to fix it at my expense.
Good luck!
George
Vestal, NY