If you're talking about the grammar, then the phrase "My car is insured" is fine. You aren't required to specify what it's insured against; that can be left implicit.

If you're talking about the language, insurance is wrong: retries do ensure positive outcomes. However, assurance is wrong as well: unlike retries, observability tools don't ensure positive outcomes, they just mitigate the negative ones.

It's just bad writing, using a tortured metaphor to explain a definition that doesn't make any sense.