A component of an electrical system that includes an electrical system component structure and a thermal insulating structure for thermally insulating at least a portion of the electrical system component structure. The thermal insulating structure includes a mixture with an inorganic binder, inorganic filler particles, and water. The thermal insulating structure also includes a fabric with inorganic fibers in the form of a fiber structure. The fabric is impregnated with the mixture so as to form a pliable binder structure. The pliable binder structure is positioned on at least a portion of the electrical system component structure, and the pliable binder structure becomes a rigid binder structure in response to being dried, cured or otherwise hardened.