Probably. They got people to sign a waiver so they're probably partially covered, but there will no doubt be some law suits occuring and a lot of money going from both sides to pay for them.
even without credibility... I doubt very much that OceanGate has the liability insurance to cover the millions of dollars blown on the recovery effort. Not for a submarine that was never certified by a 3rd party, was never not-experimental (and was experimental to get around safety regulations...)
In fact, I would be very surprised that OceanGate had liability insurance, considering the risks involved. and that the only assurance the sub was in fact in good order is a giant "trust me, bro".
Is that why it had "five crew" and not "a pilot and four passengers?" 'Cause "passengers" would imply commercial use but this is crosses fingers a totally legit prototype with a "crew" of "mission specialists" simply "testing" it or some such?
but like if you've got people renting a submersible for science... Like the Triton sub... those are crew and not passengers.
you know... if I paid $250k for a ride... I'd expect seats. and maybe something other than a bottle to piss in. possibly more than a curtain so my shits don't get smelled by... everyone...