The documentation of the function posn-at-point states

"Return nil if position is not visible in window.",

but it may also signal an error in this case.  This happens, if
Fpos_visible_in_window_p returns a list of (X Y RTOP RBOT ROWH VPOS)
and at least Y is negative (which indicates, that pos is not visible
IIUC).  The error is then signaled by Fposn_at_x_y, which only accpets
non-negative numbers (neglecting the exceptional case of -1 for X).

I think this function should include a similar test for y, as is already
in place for x, returning nil if it is negative (see below).