Recent events have made me question the point of travel insurance, at least within Europe where you are covered by the EU health scheme thingie. There is so much that isn't covered, terrorism (whatever that is), 'acts of god' (surely an unexpected event is EXACTLY what insurance is for ...
No, it isn't (unfortunately).
Insurance is to take the chances of each of us having an expensive but unlikely problem, and average them all together. Everybody pays a bit of premium, to cover a larger amount if we should be the unlucky one. It only works if our problems occur independently. If something hits lots of people together, the averaging doesn't work.
If you can figure out a financial scheme for insuring against things where everybody gets hit at once, for a tempting price, you may have invented something quite useful.
Bad stuff happens sometimes. There may not be anyone to blame for it. We have to deal with it anyway.
(sorry for grumpiness, it just annoys me that there seems to be so much clamour for blame around. I didn't hear many people campaigning for more research on the effect of volcanic ash on aircraft before this episode)