It could be a different thing. That insurance could be for the situation that the flight is cancelled by the carrier. What you mean is you want to cancel it by yourself.
-sailor(Ocean & Mountain);
2019-2-6(#6101960@60)
Actually it happened before. There used to be an airline called Canadian 3000. It closed all business overnight. No compensation to passengers.
-sailor(Ocean & Mountain);
2019-2-7(#6101985@60)