Going back a few years now but Ryanair did provide Loss of Licence insurance for the pilots but decided to give the pilots the money to get their own so Ryanair didn’t have to administer it or employ someone to administer it!
In theory it’s partly what the so called Pilots Allowance is for. At the moment Capts get £6000pa (which is taxed) to help with getting LoL insurance.
Not a perfect solution but some people just like having the money, personally I would prefer a company scheme.