So what you would be claiming in the event TG canceled the ticket would be any reasonable expenses incurred as a result of the ticket [not being honoured].
Seems like none, actually.
I just checked Bankwest Platinum MasterCard + AmEx Reserve + RACV
Bankwest and AmEx specify the events covered, and they only cover delays due to weather, industrial actions, mechanical break downs, etc.
With RACV (because their T&C do cover a lot of things, and underwritten by a Japanese, not European / US re/insurer, and covered my 2 trips to North Korea without charging crazy), they specifically exclude cancellations by transport operator.
So, that means, if you buy any plane ticket, you are actually self insured, because the policies I found do not cover cancellation by a airline, including insolvency.
There's a difference between an airline cancelling a flight (in which case they will usually re-route you) and an airline cancelling the ticket.
You are correct, meaning, if you buy a plane ticket, you are self insured regardless of what happens with the airline. Lesson number one here, is always pay with a credit card, not cash, because you are self insured.
Back to the specific case, if you buy ultra cheap fare, then you need to decide, if you are willing to take the risk of not flying, whether you are buying ultra cheap from TG, or buying from, like, air berlin.
However, your suggestion of bugging the airline, would not achieve anything, because, if you poke the airline enough, that the ultra cheap fare issue keeps being resurrected by you, that they decide to cancel your ticket, you would not be able to claim from your travel insurer, even if you have a letter from TG saying your ticket was OK.
So, back to my question: what is the outcome you are trying to achieve, by bugging the airline?