Does the existence of insurance markets negate the broken window fallacy?
No, they don't negate the broken-window fallacy.

You're overthinking it, and that's leading you to the wrong conclusion.

The breaking of the window represents a loss of wealth. The activities around it are neither here nor there - they do not change the fact that the breaking of the window represents a loss of wealth.

The existence of functional insurance markets just means that there are somewhat efficient markets to estimate the cost of that damage.