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What you have been told is correct, you cannot reclaim from the broker if the broker is no longer in business.
Whether you would have a claim against the lender in respect of the PPI or failing to tell you that you could make a claim on it (you could make a claim on the policy and also potentially a mis-selling claim against the lender!) would depend on whether the lender was aware of the existence of the policy.
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If it is on the loan agreement and noted what it is, that I think you have a claim to make possibly in respect of the mis-selling because it appears that the loan company were party to this and almost certainly in respect of the payments that you paid to the loan company which should have been paid under the PPI.