This thread has drifted widely from its subject, however all license holders are required to pass Air Law and as always ignorance is no excuse.
Mandatory Insurance Requirements | Aircraft Register | Operations and Safety
Note it covers
the minimum levels of insurance required by aircraft operators and air carriers in respect of third party cover, passenger cover and cover for risks of war and terrorism
not hull damage.
Also be aware that it is your neck on the block if you fly in breach of the law. You are absolutely 100% entitled to ask for evidence of insurance from the club and if it is not forthcoming or you are not satisfied you should go elsewhere.