Lot's of hydrofoilers have had that problem(arm through the handle) and Lonnie Marchand of Cinch Max has come up with a solution, the Cinch Max release. Check it out at
www.cinchmax.com. It's a velcro release that you can set to release at varying degrees of load. I've used one for the last couple of years and it does give you a sense of security knowing that if you get caught up in the rope or handle, it'll give before your bones do. You'll probably be bruised a little, but not in debt to the orthopedic surgeon.