I recall that. They did compensate everyone who lost their assets tho which was nice
Yes, and it's because only a small number of accounts have been compromised. Though they seem to be taking security seriously, and though the chances of their cold wallets getting hacked is highly unlikely, it's still non-zero. If their cold wallet does get hacked, then they wouldn't be able to compensate anything.
Yes, Binance is allocating 10% of its total trading fees to an insurance fund and has paid out $ 40 million from that fund to affected users of the last hack.
I'm not sure how deep that insurance fund is, but I doubt it will cover the cost of one global hacking of the entire platform. But I think they have pretty damn good security measures that the chances of this happening are almost non-existent.