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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]

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