I do not know much about mediation, but I would like to know if
insight meditation can be practiced while going about the daily
business of life as opposed to sitting down.
It depends on what type of insight meditation you are practicing
and I am not familiar with every one of them. It is best you try to
deligate some time to sitting meditation even if you are busy.
But in short, yes.
3 years ago:
A chatlog that my friend sent me 
He was chatting with our forummer, Thusness.
Ck: john, how to practise vipassana in daily life?
Thusness: just observe every sensation.
Thusness: until one day u are able to experience "emptiness as
form".
Thusness: then it becomes effortless.
Thusness: Truthz u cannot imagine the bliss when one clearly
experiences that.
Thusness: but there is no point to over stress anything.
Thusness:
Ck: Thusness just observe every sensation... give me an eg?
Thusness: when u breath, u don't have to care what is the right way
of breathing, whether u breath hard or soft, smooth or fine...just
experience as much clarity as u can...just that
experience...regardless of what it is like.
Thusness: same for all other experiences.
Ck: wot abt sound? hows it?
Thusness: when u hear, just the sound...the totality of the sound.
There is no how but just to do away with all abitary thoughts. Hear
the sound as clear as u can be.
Ck: then wot abt thots?
Ck: thots r v sticky 
Thusness: thoughts seldom arise if the practice is correct. If it
arises, then not to chase after its meaning. Not to answer urself
what it means, not to dwell in 'what'...then u will resort to just
the moment of awareness.
Ck: when i try to be just openly aware, i notice that i jump from
sense to sense
Ck: like one moment hearing, then touch, etc
Thusness: that is okie.
Thusness: our nature is so.
Ck: wots the rite way to do it
Thusness: don't think that u should concentrate.
Thusness: ur only duty is to sense with as much clarity as
possible.
Ck: and for all the sensations, i dun dwell in the 'what'?
Thusness: ur mind is looking for a way, a method
Thusness: but what that is needed is only the clarity.
Thusness: however because our mind is so molded and affect by our
habitual propensities, it becomes difficult what that is direct and
simple.
Thusness: just stop asking 'how', 'what', 'why'.
Thusness: and submerge into the moment.
Thusness: and experience.
Thusness: i perfer u to describe.
Thusness: not to ask how, what, why, when, where and who.
Thusness: only this is necessary.
Ck: ok
Thusness: if u practice immediately, u will understand.
Thusness: if u entertain who, what, where, when and how, u create
more propensities and dull ur own luminosity.
Ck: i shuffle btw self inquiry, observing sensations n thots, being
aware... its ok rite
Thusness: yes
Ck: means start work i'll hv even more propensities...
Thusness: that is when u do not understand what awareness, but it
is true to certain extend.