I went to a pub recently to investigate a faulty immersion heater "we can hear it bubbling, but the water only gets luke warm".
It was clearly a faulty element, so I took it out, and amazingly, the outer insulation was completely rotted away, leaving a broken element in the water, a gap of an inch or 2 between L + N.
Yet it hadnt tripped the RCD (or MCB for that matter).
I was a little surprised about this, and asked a lecturer I knew. He said it was common, if you put a live flex, with L and N around 2 inches apart, into a bucket of water, then all it would do is heat up the water between the L and N, and so long as you are wearing shoes, and not soaking wet yourself, you could put your hand in and not get a shock, as the shortest path would always be between the L+N terminals.
He also said there were some industrial water heaters that worked on this principle.
Alan.