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Re:Wall Street’s Latest Love Affair with Risky Repackaged Debt by arethuza on Wednesday March 20, 2019 @05:13AM (#19440304)
It might not literally be insurance but something like a Credit Default Swap - which are similar to insurance but with some important differences:

https://en.wikipedia.org/wiki/Credit_default_swap#Difference...

Re:Wall Street’s Latest Love Affair with Risky Repackaged Debt by lucozade on Wednesday March 20, 2019 @05:35AM (#19440398)
They are referring to CDSs. It's called out explicitly in the article.