Commenting on your second thought: I hoped that people behind DAO (and Ethereum?) will stick to the terms they themselves proposed but it seems they will push hard for forking the chain (see: Ethereum blog).
The "hacker" simply used the DAO as it was meant to be used (i.e. according to the smart contract code), and deserves the funds. If there is a hard fork, I hope he sues slock.it for controlling the DAO, and for stealing the funds he is owed according to their own terms ("The contract is king").
Actually, the Bitcoin devs deserve a huge amount of credit for not attempting to "improve" the block reward or total supply during their multi-year bleed down from $1200->$200.
Is there any extant insurance company that would want to review my code in exchange for a lower premium?
If not, why would one be willing to do this for a flash-in-the-pan cryptocurrency, but not a useful, real-world device?
Step 2: Find someone foolish enough to accept the other side of the insurance contract, in a world where "insurance fraud" is no excuse
Step 3: Use Ethereum maliciously, stealing your own Ether under another identity
Step 4: Collect insurance
Step 5: Profit (in Ether)
Step 6: Good luck turning your Ether into actual money when people figure out how broken everything about it is