Carrier owners are flush with cash and they need to spend more of it on preventing electrical vehicle fires, according to two top maritime insurers who are also former car carrier executives.

Car carrier and ferry owners should also be spending more on training and equipment — despite the absence of clear safety requirements — and their ships should be taking more time at terminals to follow best loading practices.

At a recent Oslo conference, the insurers cited myths about how lithium-ion battery fires start, explained how the cars burn and outlined the risks from electric vehicles as opposed to conventional and hybrid.