No, the very reason you sign away any right to compensation recently happened at an AutoX competition in Oregon. After running the first three times in his Porsche 911 GT3, that car's owner handed the keys to a friend for the fourth run.
At the end of that fateful fourth run, driven, we remind you, by the owner's "friend," the clutch was depressed instead of the brake. Yeah.
The $100k+ Porsche slammed into and bounced off of a Toyota Celica GT and then hit a Subaru WRX which took out an Audi A3. While the Celica was a competitor's car (owned, ironically, by the safety steward who laid out the course), the A3 and Subaru owners were just spectators.
It's hard to tell how this one will turn out, but discussion in the VWVortex forum is questioning the safety of the course design, but also bringing up safety issues at Portland International Raceway. Thankfully no one was injured. Not that we know of, anyway. However, if one of my friends wrecked my GT3, well...
Check out the gallery as well as the continuing discussion at VWVortex.
Thanks for the tip, TGM3!