Kanye West’s Insurance Policy May Give Him Big Payout After Medical Emergency
After cancelling the 21 remaining dates on his Saint Pablo tour, it was reported that Kanye West could lose out on some serious coin, Forbes estimating that he was leaving roughly $10 million on the table by scrapping the dates. However, TMZ is now reporting that Ye may have had an insurance policy in place to take care of such a scenario.
The policy is supposed to cover Kanye in the event that an illness prevents him from performing. Shortly after canceling the dates, which reportedly was done due to exhaustion, Kanye was taken to a Los Angeles area hospital "for his own health and safety." TMZ reported yesterday that Dr. Michael Farzam called police to come get Kanye for “temporary psychosis due to sleep deprivation and dehydration.” According to a police report, Farzam told police Kanye had attempted to assault a staff member at an undisclosed gym.
The policy details that the insurance carrier will pay Kanye the money he would have made as well as the money he was obligated to pay others if "accident or illness ... prevents any Insured Person from appearing or continuing to appear in any or all of the Insured Performance(s) or Event(s)." There is one caveat though. The insurance company can deny coverage if Kanye failed to disclose a preexisting condition at the time the policy was issued or if his illness was preempted by "unreasonable or capricious behavior."
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