I visited Bali Indonesia in September 2022 Without Travel Insurance. You will get Visa on Arrival in Bali nd no need for Covid negative Report. Just book your return Flight tickets, Show your Hotel booking, Your Travel plan nd you will get Visa on your Passport. No one ask me for Travel Insurance
Looks like and from what I gathered it is not mandatory to carry a travel insurance to Bali. When you arrive and apply for Visa on arrival do check once in the counter.