If commercial ship crews didn't have to have all these qualifications and have all the equipment, this sort of thing would happen a lot more often. You need to be licensed to drive a car, doesn't stop accidents happening, but it means that to get a license you have been trained in how to operate the vehicle correctly. I'm not saying any mandatory tests/licenses/regulations should be brought in for RIBs, but it could improve safety.
Think how many wrecked cargo ships there'd be in the English Channel if ship operators didn't have to spend all this money on complying with regulations. You'd still have some of the operators making sure that they're crews are properly trained and the boats are kitted out properly, but I reckon you'd get a lot of companies trying to cut costs and not bother with it.
As I've said in the past, I'm not saying more regulations should be brought in, I know that they would be nigh on impossible to police FULLY, but if they could be policed properly they would surely have a positive impact upon safety at sea in small craft.