Normally a pass on a survey means they HAVE to insure you.

Give the poeple at Peel Boats HQ a call, they sell these kind of boats and helped my relative get insurance at a  cheap rate when nobody would touch her boat.

 As "won't" . You may have some problems, but take the advice above and call  around. Rates will vary enormously. History shows that once ex-commercial wooden ( particularlry bondwood ) boats get into amateur hands, they really fall away on the necessary upkeep. Make no mistake, these boats can be VERY expensive to maintain properly, and most just end up in an unseaworthy state, and sink, or "run aground"   and the insurance company has to pay out on a hull loss. So they are only going on their own actuarial statistics. 

If it passes a full Hull survey ( not just the annual safety gear survey, big difference), it will be certainly good to go, but you will have to keep on top of it. They can look attractive, dollars vs size wise, but as an ex-commercial fisherman who had operated these back in the day, I wouldn't touch one. 

 Cheers guys was asking on behalf of a mate. It's passed a full survey it's in great condition. The weird thing is that the insurance company are happy to continue insurance with my mate but won't insure it with the new prospective buyers. When asked why he was told that the surveyor had used the wording ex commercial. Which means an instant reject stamp.            

Will let him know about peel boats cheers.