You're right, of course. I think the formulation was aimed more at general life events that we don't even think of as insurable. I can't recall any concrete examples from that person, whoever it was, but one thing I've long wanted is insurance against bad weather on family outings planned well in advance. Some days when I have more important meetings to get to farther away, I would also like insurance against unexpected traffic jams and other holdups.
Essentially, we make all these tiny little bets every day, and while it's possible to hedge them[1], it's complicated compared to just straight-up money-based insurance.
[1]: I can for example reserve a table at a fancy restaurant halfway to the important meeting, so if I get stuck on my way and miss the meeting I can at least get a nice meal out of it, at the cost of the table reservation.
Essentially, we make all these tiny little bets every day, and while it's possible to hedge them[1], it's complicated compared to just straight-up money-based insurance.
[1]: I can for example reserve a table at a fancy restaurant halfway to the important meeting, so if I get stuck on my way and miss the meeting I can at least get a nice meal out of it, at the cost of the table reservation.