[vmception]

yes, its pretty vibrant for the past 2 years. claims get made in advance and paid out unceremoniously with no fanfare (just like outside of the crypto space) but there could certainly be more fanfare and articles around that experience, since you can tell by this thread that people who should know about it don't know about it. You can find people in the discords of most communities who have the claims after an exploit who are like "yeah they paid" and move on, and you can look at the insurance protocol's contract to see it paid out for your own verification of that.

not sure if I've seen it for NFT collection contracts, but they're pretty robust and actively cater to the DeFi category of services.

here is a list of insurance protocols that also use a token for any number of reasons. its a whole category on the "marketcap" sites.

https://www.coingecko.com/en/categories/insurance

there are likely many well capitalized insurance protocols without a token but I don't know about them for that specific reason, which is a fun irony when wondering "but does this need a token?"