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If you have a million containers you’ll be transporting every year insuring all of them is pointless you may as well just be your own insurer and take the hit when things go wrong. It largely will work out cheaper as there is no middle man and you have loads of money from your successful business to dip into should you lose a few.

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Doesn't matter who does the insuring (external company or shipping company itself), the point is still that it would be better to have the insurance up front, instead of this risk of additional costs of arbitrary height?

And you can reach out to a (re-)insurer to cover losses that exceed some threshold.

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