09 Aug This Is The Reason An Insurance Company Refused To Pay Kanye West $10 Million

Kanye West had a rough 2016. Let’s recap.

The February release of his album The Life of Pablo was botched, with West releasing it ‘exclusively on Tidal’ only for it to become available on iTunes a few weeks later, and in need of revision. After the album’s release, West was still making changes to tracks and re-releasing them with minor modifications.

He also went on a handful of controversial rants, claiming that Jay-Z had ‘shooters’ and asking them not to come after him, among many colorful moments.

Endorsing Donald Trump, while entirely within his rights, was also a strange moment that seemed at odds with his previous ideas. His song So Appalled off his 2010 album My Beautiful Dark Twisted Fantasy features this minor jab: “Balding Donald Trump taking dollars from y’all”.

The whole of 2016 seemed to be an endurance test for Kanye. In October, his wife Kim Kardashian was held at gunpoint and robbed in Paris. By November, he had had enough, and shockingly stormed offstage during his Saint Pablo Tour, afterwards announcing that the entire rest of the tour was cancelled.

West was subsequently hospitalized for eight days, leading fans to believe he had suffered a mental breakdown, and needed time to recover.

Now, he’s trying to collect $10 million worth of insurance from Lloyd’s, a company that insures unusual events such as music tours, and once insured Keith Richards’ hands (yes, his hands, his left middle finger is worth $1.6 million).

The Michael Jackson estate also sued Lloyd’s in 2009 after his untimely death, to collect insurance for his cancelled tours.

Now, as anyone in the United States knows, here’s the problem with insurance – an insurance company only makes massive profits if they don’t have to pay out. The business model of a successful insurance company is to collect hundreds of thousands of dues and never pay major amounts to any person inside their risk pool. American healthcare is a mess because of this model. Hence, Lloyd’s has a drug-related excuse as to why they refuse to pay West.

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