It seems there was insurance on the satellite but not on the rocket. The insurance didn't cover it blowing up during the prelaunch testing phase. The third article states they are getting insurance monies and having SpaceX launch another rocket instead of taking the $50m. So, take your guess as to what the real story is at this point.

http://time.com/money/4478053/musk-spacex-rocket-insurance/

http://www.bloomberg.com/news/articles/2016-09-02/when-a-com...

http://www.spaceflightinsider.com/organizations/space-explor...