Kanye West Settles with Lloyd’s of London over $10 Million Lawsuit
The year is 2016. Kayne West, one of the most popular rap artists of the time, is on stage in Sacramento for his Saint Pablo Tour. Part way through the show he begins ranting hysterically about Jay-Z, Hillary Clinton, and even Facebook. The performance is cut short. He still has 21 more dates slotted for his tour but cancels them due to a mental breakdown. He was treated over the course of the next week in a neuropsychiatric centre.
The rapper spent thousands and thousands of dollars on his insurance to cover any cancellations should they arise. And in 2017, when he hadn’t been paid out for this claim, his touring company, Very Good Touring filed a $10 million lawsuit against Lloyd’s of London insurance market. If you don’t know what Lloyd’s is read this.
Lloyd’s followed up with a counter lawsuit of their own, against Kanye West and his tour company. This was based on the allegation that the artist used marijuana, which was written in as an exclusion in the policy. Lloyd’s used this initially as their defense to deny his insurance claim.
West’s lawsuit suggested that the insurer could not deny the claim on the basis that the use of marijuana caused his mental breakdown.
Lloyd’s responded saying West had “substantial irregularities” in his medical history and they were not solely denying the claim based on the use of Marijuana. They also followed it up to say the touring company refused to provide information that was relevant and necessary for underwriters to properly execute their investigation of the claim.
Kanye’s lawyer, Howard King, released a statement that, “Lloyd’s did not want to honour a legitimate claim but can’t find a factual basis to deny the claim.”
However, after all this back and forth, we can now rest assured knowing that it has been settled.
The judge assigned to the case dismissed it on Valentine’s Day after the lawyers came to an agreement from both sides. Love must have been in the air. The matter was described to have been resolved amicably, with Kayne West receiving most of what he was due under the policy terms.
We really don’t know why we wrote this article and if you made it this far, well we apologize for wasting your time. You know what is not a waste of time? Getting a quote with McDougall Insurance!