Kanye West Is Reportedly Suing An Insurance Company For $10 Million
Kanye West is reportedly suing insurance company Lloyd’s of London for a hefty $10 million, according to The Hollywood Reporter. West is suing for the money Lloyd’s owes him after the cancellation of his Saint Pablo Tour.
Last year, Ye nixed 21 dates of his tour shortly after his wife, Kim Kardashian, was robbed in Paris. In the midst of that, he was hospitalized for a mental breakdown. The insurance company said it was able to pay the “Famous” rapper the money he was set to make on those canceled dates.
Yet he seemingly has yet to receive a dime, and now Lloyd’s of London is refusing to give up the money, pinning West’s marijuana usage against him. Lloyd’s claims it could jeopardize what he was initially entitled to.
“Nor have they provided anything approaching a coherent explanation about why they have not paid, or any indication if they will ever pay or even make a coverage decision, implying that Kanye’s use of marijuana may provide them with a basis to deny the claim and retain the hundreds of thousands of dollars in insurance premiums paid by Very Good,” reads the complaint. “The stalling is emblematic of a broader modus operandi of the insurers of never-ending post-claim underwriting where the insurers hunt for some contrived excuse not to pay.”
West’s lawsuit states that his physician ruled that he had a mental breakdown which made him unable to perform. He also claims that the insurance company wanted to examine 11 members of his team under oath despite having provided testimonies due to his breakdown.
“Immediately turning to legal counsel made it clear that Defendants’ goal was to hunt for any ostensible excuse, no matter how fanciful, to deny coverage or to maneuver themselves into a position of trying to negotiate a discount on the loss payment,” reads the lawsuit.
“Performing artists who pay handsomely to insurance companies . . . should take note . . . Lloyd’s companies enjoy collecting bounteous premiums; they don’t enjoy paying claims, no matter how legitimate,” West’s lawyer, Howard King, stated.