Nothing in the article indicates that insurance will be harder for other festivals to obtain. The insurance executive quoted says that insurance probably wouldn't have covered the organizers of the Fyre festival. The event did not fail because of an external event; it failed because the organizers didn't have the money and organization to prepare for it.

Fyre Media is being forced into bankruptcy by their many creditors. The WSJ article is "Lenders Seek to Force Fyre Festival Into Bankruptcy". (If you search for that in Facebook, you can read it for free. Searching for it in Google won't help. This, as an aside, reflects the changing power situation between Google and Facebook.)