In crypto space where there is so much volatility, scams and a steady cascade of nascent projects coming up, varying government laws, crypto asset insurance sounds like a pipe dream, until better clarity in cryptosphere.
Regulation has to be strengthen first to protect everyone's interest.
For a crypto asset insurance to operate, they need a clarity of regulation so they can smoothly run their business, and they would be more interested to operate a business if regulation is good as this would lessen the risk. With higher risk, it's not good for their business as they would require a high amount of premium from members and that is not viable IMO.
We are taking risk and we embrace it fully, I think we don't need an insurance for that anymore.