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Most airlines are giving free cancelations and changes right now - you may also want to check with the airline if the insurance doesn’t cover the cost
Allianz specifically excludes epidemic. In fact is listed as #14 on their exclusion list. Had tickets to Italy - Diamond member, purchased on Delta Amex Reserve with Delta offered travel insurance thru Allianz and I’m told there is no way to receive a refund - only voucher for future travel.
Most airlines are letting you cancel flights for free or receive credit/no change fe for travel till end of year
Travel insurance typically doesn’t cover “acts of god” like a pandemic, but most major airlines will cover the cancellation fee, as per above.