As usual with such stories, there is very little in the way of "facts known" with which one could cast any real judgement.
I do think, however, that many people like to forget that the world is a big place, it is not all developed, and bad things do happen.
If I contemplate mountain climbing in Nepal, canoeing the upper reaches of the Amazon, or, as in this case "quad biking in Egypt", I have no expectation that everything will run perfectly.
The alleged story here is that the guy died because a wicked hospital "turned off his life support" because a wicked insurance company refused to pay. Parts of this version may be true, but the very first link in this chain of events was the decision to go thrill-seeking in Egypt.
Insurance is a great thing, but it is not failsafe, just like Life isn't.