Insufficient Losing Chances Ruling - Right or Wrong?

Agreed.

I wouldn’t call White stubborn, though, if he refuses a draw. First, he may not know how a win can be blocked. Second, he may realize that he can still win if Black makes one mistake.

Also agreed.

I’ve had several experiences where the players agreed to the draw as soon as I got to the board with the delay clock. The threat is stronger than the execution.