> Because Re-insurance companies look at the likelihood of pandemics and simply refuse.

I believe it's not likelihood alone. It's a combination of very low likelihood, very high cost event that doesn't make it worth it for most.

In the end it likely wasn't the re-insurers decision. They cover pretty much everything for the right price, also pandemics. But no end-customer would've paid the extra price for pandemic coverage so no insurers used it. Unless it's outright illegal I've yet to hear of an event that no insurance company would cover.