As lithium-ion batteries continue to make their way into the marine space whether through vessel systems, transported electric vehicles, or everyday devices onboard we are starting to see a different type of
As lithium-ion batteries continue to make their way into the marine space whether through vessel systems, transported electric vehicles, or everyday devices onboard we are starting to see a different type of fire loss than most of us have traditionally dealt with.
These events are not necessarily more frequent, but when they occur, they tend to be severe. In many cases, they result in prolonged fires or even total loss of a vessel or cargo. That aligns with broader industry findings that fires remain one of the costliest drivers of marine insurance losses, particularly when lithium-ion batteries are involved (Allianz Global Corporate & Specialty [AGCS], 2022).
At the center of many of these incidents is thermal runaway. Once initiated, it becomes a self-sustaining reaction that is difficult to control. The fire can escalate quickly, producing extreme heat and flammable gases, especially in confined spaces typical of marine environments (U.S. Coast Guard Research and Development Center [USCG RDC], 2025).
From a practical standpoint, that changes how these losses need to be approached from the beginning.
Where the Risk Is Emerging
Battery-related fire risks are showing up across several areas of the marine industry:
•Hybrid and electric propulsion systems
•Electric vehicles transported
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