I wish to know if shares purchased during IPO's can be insured.

Hey you can insure shares but it needs some expertise + availability of market derivatives which the stock market is yet to offer. Just read about options "married puts" and u will see what i mean.

yes poske u couldnt have explain it better

You cannot insure shares using insurance as we know it. Infact, you cannot insure shares. You can limit the downside risk (and hence the profit potential) by using a combination of bonds, calls, puts and the shares you bought. Not many market in the world offer derivatives. US and UK exchanges offer derivatives and many other exchanges process thier derivatives through a partnership with these big exchanges.

We have some financial engineers that have designed insurance (as we know it) for shares with SWAPs and Futures, but the underlying securities are still the traditional stock + put and shares+ calls.

I know this sounds like greek and it will take some time to sink in (it took a long time for me). Let me know if you need more info.

good question.
too risky for insurance companies i guess!

NO! you cannot insure shares because it is a speculative risk.

Nice and educative topic.
Coincidentally, I attended some financial conference/workshop last year, and a gentleman from one of the leading global banks started a discussion along these line. And I am almost sure there are new financial products in the pipeline in this direction. It could be in the form of equities/shares derivatives that will be similar to existing FX options (plain vanillas / structured products). which is, you buy the right to sell or buy financial instruments within specific time frame. For this right, you pay a premium.
Basically, what this might look like is a new financial product in the form of equity derivatives with some sort of floor and ceiling prices built in it with triggers to trigger automatic sales when these indicated price ranges are reached.
What happens when you buy shares, is that you buy part of the company in which you are buying the shares and as long as the construction remains this way, I am not sure companies will be willing to be the ones to solely take on the risks without passing on some of the risks involved onto investors, who are also investing in anticipation of making profits.
It’s early Monday morning and it’ too early to crack / stretch my brains…, But nice topic though. To all the financial gurus in the house I would say. Bring it on! This could be an opportunity to develop a product with huge market potential! 
Poske, you game? haha! just teasing.
Have a nice day guys,

I must commend all the contributors on this topic but the real issue is how closely related are these practices in real life situation especially a close-up look at the Nigeria capital market, bearing in mind that we are adopting europe's style of capital/stock trading with a referral to the crash of the American stock market which is today's wall street.
Hope we have peoplle in the house with good history of the world's capital markets.

@FLT123

Can i get your mail address? i need so stock trading advice from you. Im a newbie in stock market.