Not much more so than insurer, insuring and insurance.
I can remember when a verbal noun was a gerund, which I suppose dates me. In Russian I seem to recall a gerund is more of a verbal adjective.
But "insurable" probably demonstrates the innate versatility, I almost said superiority, of the English language. който може да се застрахова is a bit roundabout.
I think I'll take a sleeping pill so I can be a sleeping man