Banks, as entrepreneurial ventures, are not insurable, except against poolable risks like fire and theft. No businessman can purchase insurance against failure, and in a free market, neither would any bank. Deposit insurance is merely a government subsidy to the banks, and as such, illegitimate. Without it, banks would be subject to market forces like every other business. They would have no privileges or immunities beyond the rule of law.
Human nature is the same today as in the Victorian era, and so are the laws of economics.
Now all we need is a Tom Paine to lead that revolution.