You can buy airline failure insurance from the globespan website, click the "book extras" blue button at the top and select the "Travel insurance including scheduled airline failure"
Equally if you buy on credit card your credit card company will honour any loses.... also if you book a holiday with globespan the government will honour any loses under the ATOL protection scheme.
Globespan have been around for thirty years, despite what DAVY trys to stir up I doubt for one that we will see an end to them in the near future.
Enjoy your globespan holiday.