If they choose to run at such thin margins they can't survive one tail risk event and have failed to buy appropriate insurance even after a decade of growth, they shouldn't be able to socialize their loses.
Where exactly do you propose they buy this mythical insurance policy that includes pandemic coverage?
(On another note, insurance is literally the socialization of losses. It's just a privately run socialization of losses with your fellow policyholders.)
What are they for?
The exist to cover modelable high-cost low-probability events.
I’m sure that one of the conferences my company bought tickets to is going to be cancelled. I don’t expect they care to pursue getting their money back.