Libertarian Nightmare

Steve Landsburg consistently provides thought-provoking, incredibly well-reasoned posts.  His post about lifeboats is especially so.

His point is that it takes several calculations to conclude that it's worthwhile to require ships maintain a supply of lifeboats to save all passengers aboard.

What I appreciated most was how he once again shows that we can apply economic thought to everyday situations with sensible results. I had never thought of the lifeboat calculus thus.

A point I'd like to add, though, is that Landsburg calculates that the cost to the ship of maintaining that lifeboat is about $4/passenger-trip.  This is a form of insurance that we are mandated to purchase.  He frames it as a choice to the consumer of whether or not to purchase this insurance, but in reality, ships are required to provide this, and presumably it's part of the ticket price we pay.

The question to a libertarian is should that be mandated?  It's unthinkable to have a world where everyone can individually buy the insurance, and in the event of an accident, only the insured can escape.  It's distasteful also for the government to require the purchase of a product with another.  What's the solution?