We were sailing downwind in about 5' of swell and 17 knots of wind. I looked to the side and the dingy was 15 feet off our port side 1/2 full of water. It stopped, we continued and it jerked at the end of it's painter almost breaking the line. At that point I decided to turn around (not easy towing a dingy) and haul it aboard. That was no fun and it was dangerous taking almost an hour to get it secured.
Since then ( 8 years ago ) we never tow.