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colas said..
"About 1 inch above swivel" sounds like a fin cut. Maybe sand them a bit, and try to not bailout with the board facing the foam, thus being pushed fin-first into the leash.
I am not a big wave rider. I used Creatures and was OK with them, but I switched to Ocean&Earth "The One" for years with no failure. I was attracted by their "no added part" design at the swivels, and the test made by stretching them with a car. I have in my van a spare big wave creature of leisure "Outer leash" 10mm diameter cord, but never had to use it.
What I like with the O&E One is that they stretch quite a bit, it acts as a warning, giving you time to streamline yourself in the water to be dragged by the leash with less resistance and avoid huge tension in the cord that will cause breakage and/or injuries.
+1
Have had a good run with these, failures only by fin cuts.
I tend to use a foot smaller than the board I'm on, as they do stretch over time.