I had the same issue. But since pics are so cheap on the camera I aim it like shooting from the hip and take lots of extra pictures. I've gotten the Olympus SW's that are shock proof and water proof and been quite happy with it. Some cruisers that actually use them underwater haven't found them to last through their warrenty but then they send them in. I've not taken UW pics with them but have had the camera underwater (on a river trip) and have dropped it out of my pocket while jogging and it still works great.

Good Luck,

Go Slow
Sail Far
Stay Long