Seller Option for Non Tracked Items

I have posted an item and the buyer has not received.
 
I have proof of postage but no tracking.
 
I used the eBay packing options to generate the price / label.
 
Royal Mail compensation will not cover the value of the items.
 
When something isn’t tracked it seems to becoming to regular that items aren’t arriving. 
 
What does EBay’s seller protection / policy do for the seller?
 
Thank you.