Must have been on special. Or maybe they thought the wiring in the basement might get chilly. I especially like it when it’s painted.
So is that OK or will it over heat ?
NEC 334.15 should be looked at. Pipe insulation does not qualify as a means to protect romex in exposed work.
Thanks Steven. I looked it up, and you are correct! 
A few comments, NM cable requires additional protection when subject to physical damage. If these cables were not subject to physical damage then this installation is just unprofessional and ugly but still code compliant. If it is subject to physical damage then the protection needed is as noted in 334.15(B). This stuff is not on the list. 
One other thought, seeing the metal decking in photo #2, what type of building construction is this? 334.10 limits where NM can be used.
That is what I thought.
I thought it looked like a pipe is running parallel to the joist. Perhaps this insulation is to limit the possibly heated pipe from contacting the NM.
Me too!!
Thanks Robert. The building is a community clubhouse (about 3K SF). The decking is the underside or an elevated patio connected to the clubhouse.
The wire in one photo is on top of a door frame. No need for thermal insulation whatsoever, and there was a lot of it like that.
It was about 10’ high at the ceiling and conduit looks nicer up there since it’s an unfinished area and will always be so, but I can’t put my finger on anything that requires conduit.
Just weird?