They got no insurance (Which is pretty cheap),...
I doubt you will find an insurance company that will make an insurance for bitcoin miner. If you start to explain them that they are extremely valuable devices that will be valuable for 3 months only though then they will send you out of office fast. Its simply a real nice risk. So i think it was unavoidable that no insurance was there. Or was there an insurance for the big mining farm that burned down some weeks ago?
Of course you can get insurance, I'm surprised you don't if you're mining on any sort of scale.
You mean you know an insurance company that would or could have insured the operations that friedcat ran? I wonder what they would insure then. Future profits included? But honestly i really doubt any insurance company will take this thin bet. Do you have examples?
Edit: The big farm in thailand that burned down wasnt insured too. Im very sure they would have done if possible. I mean the loss will be huge for them. On the other hand... if there would be an insurance possible then im sure the rates would be so high that it wouldnt be worth it.