Jeeks,
Bummer! What you need to do is get the shround off so you can get get a grip on the insert. Unless the shroud is one that you can destroy, best bet is to centerpunch and drill the bolt until just the head comes off. Leave as much of the shaft as you can. Then you might be able to get a grip on the insert with some needle nose vise-grip and twist the bolt out, or just pull the whole insert out. You will likely have to replace the insert. If it has been spinning you might need to glue in the new insert with a hot glue gun (or similar) or melted plastic weld so it doesnt spin. Make sure you use antiseize on the new insert threads. Hope this helps. Cam.