Not really, the insurance won't make things right in an instant. They will usually compensate you financially, but often only after painstaking evaluation of all circumstances, weighing their chances in court to get out of paying you and maybe a lengthy court battle and a race against your bankruptcy.

So yes, getting insurance can be a good idea to offset some losses you may have, as long as they are somewhat limited compared to your companies overall assets and income. But as soon as the insurance payout matches a significant part of your net worth, the insurance might not save you.