That's a situation where insurance from the government and the airline and the credit card won't really protect you, but additional travel insurance would.
ARONCZYK: David says they address these hypotheticals in part by baking the eventualities into their models, into their calculations, and setting aside credits as insurance for events like wildfires.
A credit default swap is an insurance contract between an insurance company or an investment bank and the owners of an interest bearing asset like bonds or mortgage backed securities.
This insurance policy was known as a Credit Default Swap and it literally swapped the bad credit rating of the CDO with the great credit rating of the big insurance company.