They're supposed to be. Both risk losing their ship but the cargo hauler has increased their value by having cargo, and if they aren't increasing their insurance they're taking a risk. There is no inherent imbalance here, just players not commiting as much protection as their risk value costs. They're making a high stake choice by carrying tons of cargo and not being able to defend it. That's their choice. The game is not imbalanced just because the players don't protect their investments.
Again you miss my point. I did not say the game was imbalanced or even suggest it - please quote me if you think I have.
The context is key - the context is the first responded said he sees no point in CQC because there is no stakes and risk there as there is in current Open meta when someone dies.
My reply was that in that context, I didn't see how he would view there being any stakes or risks in Open for him (the fighter combatant) vs. traders who have - and this is where maybe you're confusing my reference to balance - an enormous imbalance to dying in a trader vs in a fighter. Again, if you base your logic of CQC = bad because no risks to dying, but Open meta = good because there are these presumed risk and stakes the OP responded referred to - then it is a fallacy because for fighters the 'effective' risk and stakes are nil compared to traders.
I would absolutely agree with your presumption that traders have increased their value by having cargo but not increasing their insurance - if not for the fact the current meta has not implemented cargo insurance.
If cargo insurance was there, then yes- only an irresponsible trader would not take it. Or at very least - I would agree with you that if you passed it up in order to get better trade profits, then it's your own fault if you die. That is what insurance is for - to cover you just in case, but you are free to risk going without it.
The problem is we are all afforded ship insurance, but there is no cargo insurance. So how is it that in your view traders are ducking out of getting the benefit of cargo without paying cargo insurance, when there is no implemented cargo insurance?
To quote you - how are "players don't protect their investments" when there is no option of cargo insurance? Perhaps you are confused re: the status screen - it shows in game on the insurance screen, but it has not been implemented yet.
If it were, then that would solve a lot of issues re: unwilling pvp on traders, loss of cargo imbalance vs fighter rebut, etc.