Will a polarizer filter work underwater?

I'm trying to capture some images underwater (camera fully submerged) and one thing that is always troubling is glare. Most of the objects I'm looking at are metalic, and most of the time the only light source available must be on the camera due to access limitations.

In most situations above water, when glare is a problem I turn to a polarizer, so that's an obvious starting point here. But right now I don't have one that would fit my equipment, and I'm not sure how effective it would be anyway.

Any insight would be appreciated.