Hogwash. Buying insurance is a net loss activity, knowing it's a net loss activity, to prevent greater net losses in the event of catastrophe. Taleb is not buying insurance to prevent net losses in the event of a catastrophe. The philosophy and strategy he is endorsing is to engage in buying options to profit from those risks, however remote, that manifest themselves every so often, even if he bleeds in the interim period.
Live webcast of Nassim Taleb's lecture/book launch at the RSA in London today: http://www.rsa.org.uk/audio/
i have read both books. some of my interpretation is taleb also sells premium too. there are direct quotes out there that are not in the book.