Responsible?

[Fly High]

Quick question here for you. If you have a single pilot airplane but you have 2 pilots flying it each time it flies. Let's say that the pilot flying today has his commercial and the pilot sitting in the right seat has his ATP but just runs that radios and slings the gear today. If something happens, who is responsible? I have heard a few different opinions. 1.)The pilot manipulating the controls is the PIC, thus the responsible one. 2.) The pilot with the highest rating is ultimately responsible for the airplane, even though that pilot is not flying.

Opinions? Any Legal or Regulatory reference?

Thanks!

 

[BoilerUP]

Assuming both pilots are rated and current to be PIC...

Who is signing for the airplane, or at least the listed PIC on the flight plan?

Who is the briefed and designated PIC?

Has insurance approved both pilots to be PIC?