What happened:
In February 2022, the Felicity Ace cargo ship carrying over 4,000 luxury cars caught fire in the North Atlantic. The fire raged for days and eventually the ship sank, taking the entire cargo (worth $401 million) with it. All 22 crew members were safely rescued.
Cause of the fire:
The exact cause is unknown, but electric vehicle batteries onboard are suspected to be a contributing factor. Lithium-ion batteries in EVs can be difficult to extinguish and pose explosion risks, making firefighting challenging.
Environmental impact:
Over 2,000 tons of oil, fuel, and other pollutants spilled into the Azores' marine ecosystem. Sunken car batteries and fuel tanks pose a significant threat to marine life and the ecosystem.
Additional details:
The ship was carrying high-end vehicles like Porsches, Audis, Bentleys, and Lamborghinis. This incident raises concerns about the safety of transporting EVs by sea and the potential environmental impact.
I would love to know the bts of the claim process on the insurance of than kind of cargo.