By Damilola Faustino
Kanye West has agreed on an out of court settlement against Lloyd’s of London, the insurance company responsible for insuring the rapper’s Saint Pablo Tour in 2016.
According to reports, Lloyd’s of London caved in under pressure from Kanye’s lawyers, agreeing to pay most of what the Life of Pablo creator was due under the policy.
Kanye’s legal representative on the case, Howard King, released a statement on the settlement saying “The matter was amicably resolved”.
Yeezy and his touring company, Very Good Touring, originally launched a $10 million lawsuit against the insurer back in August 2017 to recoup losses for the remaining 21 shows that were cancelled due to West’s November 2016 hospitalization.
Lloyd’s of London refused to pay, claiming the breakdown was triggered by Kanye’s alleged drug use. Any use of drugs was an exclusion under the policy by Lloyd’s of London.
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