Live Nation is suing its insurance company for refusing to cover hundreds of millions in losses caused by the coronavirus pandemic. In a new lawsuit filed in California federal court on Jan. 29, Live Nation claims that Factory Mutual is refusing to honor the premium policy it sold the promoter despite language that communicable diseases like COVID-19 were covered.
At issue is the Global Advantage policy’s property damage section, which Live Nation claims is “meant to protect the insured against all risks of loss, whether known or unknown” with enhancements added to the coverage protecting “against loss of income following a disaster, wherever you operate, or however indirect your connection to the loss.
In August, a District of Columbia judge ruled that the forced closure of a dozen restaurants in Washington did not constitute a direct physical loss and did not trigger a covered claim with the Erie Insurance Exchange. And in May, in one of the first court rulings on the issue, U.S. District Court Judgeruled that Social Life Magazine Inc.’s attorney deserved “a gold star for creativity” but ruled the publisher’s loss was not covered under the policy issued by Sentinel Insurance.
I feel bad for the small independent venues. Fuck LiveNation and their ticket surcharge fees, letting scalpers buy up all the tickets, etc.
Why did you delete?
Uh oh, Rapino you good?