Home » Insurance » P&C Files Update

P&C Files Update

August 3rd, 2017 Insurance
Last Fall, we blogged on Kanye West’s health issues, specifically as they applied to the cancellation of much of his concert tour schedule. In that post, we noted that Mr West had apparently purchased an insurance policy to cover that eventuality:

[H]e’s since cancelled the balance of his tour, at a cost of at least $ 30 million. That’s a lot of scratch even for a successful musician, which is why he (reportedly) has an insurance policy that likely covers this kind of situation.”

As it turns out, he did, in fact, make that purchase. And the story might have ended there, but for one small problem:

Kanye West has filed a lawsuit claiming insurers failed to pay nearly $ 10 million for the singer’s canceled Saint Pablo Tour last year.”

As an aside, I’m curious about the rather substantial discrepancy between the $ 30 million loss cited in the original post, and the $ 10 million in dispute.

Nevertheless, this is an interesting case: it seems to turn on the definition of “accidental bodily injury or illness,” which being hospitalized seems to pretty much qualify.

One wonders whether this will be settled out of court, or taken to trial. We’ll keep you posted.

[Hat Tip: FoIB Jeff M]

>>Insurance Books (Completed)

Tags » ,

Related Post to P&C Files Update


January 16, 2014
Yesterday, Bill posted about some of the travails facing Golden Staters trying to muddle through the Medi-Cal/Exchange labyrinth. The troubles don’t stop there, however: “Two months ago, L.A.-based security researcher Kristian Erik Hermansen was...

In$ult to Injury

April 5, 2016
So this came in the morning email: “Under OH law, insurance carriers are required to pay an appointment renewal fee of $ 45 every year for their active appointed agents. Under the agent agreement,...

Alphabet Soup News

April 23, 2014
From our friends at FlexBank: ■ “The IRS announced the ability to permit employees to carryover up to $ 500 of an unused health FSA balance. IRS Notice 2013-71 now offers an...

Queen City Drama Update

March 29, 2013
There are some new developments in a story we’ve been covering for the past several years. From our September 1, 2011 post: “Retired city of Cincinnati workers argued in court Tuesday that City Hall...

Taxes, Shmaxes

February 4, 2015
Thanks to Moe Lane, we have this little gem: “Consumers who received too much in federal tax credits … got a reprieve of sorts from the Internal Revenue Service this week. Although they still...

Perfection as the Enemy: A Risky Tale

April 17, 2017
Recently, a client came to me looking for individual disability insurance. He’s self-employed, which always makes this search a bit more challenging, but has been making a decent living at it for a while,...