Upon opening the customize shortcuts windows it simply is not there, I am unsure when this started as I used to have keys bound to this before I switched to a different PC.
The “Insert Object” that I want to bind a shortcut to is the one in the “Advanced” ribbon shown in the image.
The only thing in the shortcuts menu however is the Insert Object that pops up when you right click.
The Insert Object menu in the advanced ribbon is simply easier for me to use since it opens up a window that I can dock onto the edge of my screen as opposed to the right click menu.