I don't actually KNOW the answer to your question, but I don't think you can transfer your reservations to anyone else. This is a probably a security issue.
I (again a personal opinion) would never cruise without the insurance. You just never know what might happen. If someone in your party becomes ill or has an injury, they may have to be flown by helicopter to a US hospital. If they don't have the insurance, they may have to be treated in a foreign port, which is usually not even close to the care they would get in the US. To be flown out of a foreign port costs around $10,000! This would all be covered if you had the insurance (besides all the small things, such as loss of luggage, etc.).
Also, if you think something might come up where you couldn't make your cruise, you would be able to get your money back.
From a non-cruise standpoint, we went on a "Dude Ranch" vacation through my DH's company a few years ago. On the first day one of the agents was thrown from a horse and had to be flown back home with a broken hip. They didn't have trip insurance and it cost them big time.
Trip insurance is relatively inexpensive. I'd never go without it!
I realize this is more info. than you asked for, but I just wanted to let you know my opinion.
BTW, I see from your "extension" that you are in Texas. I have friends in Dallas, Houston, and Bonham. Are you anywhere near these cities?
"A truly happy person is one who can enjoy the scenery on a detour."
Cruises are non transferable. If you cancel for any reason and are within the penalty phase of your travel arrangements you will lose money. This can be anywhere from the deposit amount all the way up to the total you spent on the cruise. It all depends on the cruise line and how far from your cruise you cancel. Please check with your travel agent for your specific cruise.
I agree with Fern. I do not cruise without insurance and you are taking a big risk when you do.
My wish is that nothing stops you from going. Happy Cruising.