Originally Posted by FBinNY

Your best bet might be to drill or ream out the insert. This can be difficult if it spins, so you have to try to trap it so it won't spin, and use very light pressure as you drill.

If you can't keep it from spinning, get a hose clamp and drill a hold through it. Then clamp it around the tube with the hole centered over the insert, and tighten (don't get carried away). Now you should be able to drill or ream out the bolt and insert in one or two passes.

Then replace the insert with a riv nut tool, or pay a shop that has one to do the job.