> While this ship has thousands of containers, they probably run through a handful of shipping agents that won’t be in business for long if they make fraudulent claims.

I don't think they can even make fraudulent claims.

Whether a container gets thrown over board or not is a binary outcome.

How much value to declare upfront is self-policing:

If you declare a high value and someone else's containers gets thrown overboard, your share of the averaged losses is bigger.