In most countries a driving licence could not be taken as payment or punishment for damages owed to an insurance company as that you be a civil matter.
no because you will get another insurance
The insurance adjuster from your/their insurance company (first wreck) should have taken detailed pictures and descriptions of the damages. Those would be brought up and compared to the new damages, and difference should be payed out.
Most "no fault" laws apply only to injuries, so in other words, if someone else damages your car, you can get the damages taken care of by their insurance company (or use your ins company and they will go to them for you possibly). Michigan is the only state I know of that is completely no fault, i.e. for property damage you go through your own insurance company
It was taken over by aegon insurance
NO
It could be an insurance policy taken out with an insurance company in case of an accident.
Contact the Insurance Commissioner, they probably had the company taken over by another company.
A permitted license holder still needs a car insurance. The license is just to prove that someone has taken the driving lessons and understands the road rules. Insurance helps to provide some backup when liability comes due to an accident.
Points taken from your licence from a moving violation are reported to your insurance company, so it is your rate that will go up. The company will only be interested in a situation where damages are claimed. They may check your licence periodically though and if too many points are deducted your driving privilege can be revoked. Having unsafe or reckless drivers in company vehicles can void their policy.
Not only does Honda have insurance on the vehicle, so does the repossession company, the storage company, the transport company, and the aution agency.
An insurance company generally does not pay the lien holder directly. The vehicle owner is responsible for paying for insurance coverage and will often deal with the insurance company themselves after a collision has taken place.
You are financially responsible for loss experienced by the damaged party. If you are unable to pay for the damages you may loose driving privileges and/or be taken to court in an attempt to recover damages.