Kanye West Settles $10 Million Insurance Claim with Lloyd's of London

Kanye West Settles $10 Million Insurance Claim with Lloyd's of London

In 2016, the rapper pulled the remainder of his tour dates in support of his album The Life of Pablo following a spate of shows peppered with political rants and abrupt stage departures. His company, Very Good Touring, sued for $10 million.

Lloyd's insurance policy refused to pay out for preexisting psychological conditions, use of illegal drugs, use of prescription drugs obtained without a prescription, and overuse of alcohol.

Kanye West just resurfaced on Instagram and has more personal news to celebrate. His tour was insured by Lloyd's of London, but the insurance company refused to pay the claim. Although 'Ye provided sworn testimony from his primary physician and filed the claim two days after checking himself into a psychiatric center, the insurers demanded to depose those in the hitmaker's entourage. Lloyd's apparently couldn't handle the pressure by Kanye's lawyers and therefore agreed to pay most of what Kanye was due under the policy, which we know was almost $10 million.

West's company, Very Good Touring, said the London-based insurance market was refusing to pay out by alleging that drug use was responsible for the medical condition behind the cancellation.

A Press Association report published by the Irish Independent said representatives from the opposing sides requested the case's dismissal, with lawyers Howard King (West's) and Paul Schrieffer (insurer's) not commenting further or offering details of the settlement. They had claimed that marijuana caused the mental issues, which is an exclusion in their policy.