In light of the COVID-19 concerns, and rapidly evolving workplace and governmental disaster planning, I reviewed the "Covered Reasons" under which my travel insurance would offset unrecovered costs and learned that "travel bans" are NOT a covered reason for trip cancellation. The closest thing I could find in my Travel Insured International agreement was the "Natural Disaster" clause which unfortunately is limited to "a flood, hurricane, tornado, earthquake, mudslide, tsunami, avalanche, landslide, volcanic eruption, fire, wildfire or blizzard that is due to natural causes". An email to the company confirmed this. The response was: "The corona virus is not an insured reason under the policy unless you’re contracted with the virus as we do not cover travel alerts, warnings, advisories, nor bans."
Travel Insured seems to talk around the ban issue on their current coronavirus FAQ. Beware if you plan to buy from this company.
https://www.travelinsured.com/news-resources/current-events/2020/02/27/coronavirus-faqs
Bottom line: Read your policy carefully if you are hoping that buying a travel insurance policy will help offset losses due to coronavirus.