Uttoxeter hired fleeces to cover their entire course for their last meeting, Stodge - and that's far from as prestigious as Haydock Park, nor has it anything like the availability of large hospitality/restaurant facilities. If it was prepared to fork out such a cost, then a much bigger course like HP ought to be. It seems disingenuous that they hadn't foreseen heavy snow, particularly in view of the clear-cut weather forecasts made public well in advance, and made plans accordingly.
They would have to refund all pre-paid tickets or offer the holders a future date on which to honour them, and therefore I'm not sure that courses can insure against loss of income due to bad weather - simply because some people might turn up and take up the hospitality, in which case they've lost the racing, but not some income. Perhaps if they do take out what would be very high premiums (after all, they're quite likely to lose meetings in winter!) then I imagine they'd have to refuse entry to everyone, regardless, so as to claim they'd lost all of their planned income. I can't see insurers paying out for a day's lost racing but allowing them to keep several thousands in hospitality bookings.
Their tv money is of course paid for picture rights to betting shops - without any races, there's no pay-out.