Does it take a DAO vote for LIDO insurance fund to cover a slashing event?

I was wondering if it will take a DAO vote to tap into the insurance fund. I was reading the RockLogic Post Mortem at Post Mortem: Lido on Ethereum RockLogic GmbH Slashing Incident and it said:

Regarding possible compensation of stakers, RockLogic will determine if they will compensate stakers or propose that the Lido DAO utilise its cover fund (note: the amount analysed above is a projection and the actual penalties+missed rewards may differ).

Is this the current policy or is some smart contract somewhere that will automatically kick in if there is a large enough slashing event?

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Yes, cover fund is not automated: it’s a dao decision to use it.