Kanye has $30 million insurance policy but will it pay out?
The sudden cancelation of Kanye West’s Saint Pablo tour has raised many questions among his fans and the music industry but there is also uncertainty over his insurance.
The rapper was taken to a medical facility for psychiatric assessment following a 911 emergency call by his personal physician. It’s reported that West was handcuffed to the gurney by paramedics when he tried to resist them taking him to hospital.
It has emerged that the tour was covered by a $30 million insurance policy designed to cover the potential losses from ticket sales and other costs if the tour was cancelled.
However, there is speculation about whether West has a pre-existing medical condition, and if so, whether the insurer was aware. The rapper announced that he was cancelling the tour 3 days before Monday’s emergency admission to hospital which may also affect any pay out.
Increased demand for Islamic insurance but supply lags
A new survey of brokers, risk managers and insurers across multiple jurisdictions has found that there is an increasing demand for Islamic insurance products (takaful) but capacity is low.
The poll by the Islamic Insurance Association of London found that takaful is concentrated in Southeast Asia and the Middle East and is expected to reach a gross $20 billion of written premiums by 2017.
The potential for the industry of offering increased Sharia-compliant insurance products has been recognized by some global insurers and markets such as Lloyd’s and
Zurich.
The IIAL survey reveals that 70 per cent of respondents would buy takaful products if they were offered alongside other options.
Clarkson insurance joke results in complaints to TV regulator
The host of Amazon’s new car show The Grand Tour has prompted complaints to a TV regulator for a joke he made about gypsies and insurance.
Jeremy Clarkson, no stranger to controversial comments on his previous show Top Gear, made the comment in the debut episode of the new online show during his introduction.
"This is our new travelling studio tent. We're going to be roaming the world in," he said. "We're going to be like gypsies – only the cars we drive are going to be insured."
The Daily Mirror says that The Traveler Movement has made a complaint to Ofcom, Britain’s version of the FCC, claiming Clarkson’s comments were racist.
