Band members of the rock group Black Crowes have sued Lloyd’s of London in L.A. Superior Court, alleging that it has failed to reimburse the group for lost profits and expenses its members suffered when former Led Zeppelin guitarist Jimmy Page was unable to play with Black Crowes due to a back ailment. Page’s back problems were so severe that the band’s North American and European concert tours, scheduled for last year, had to be canceled.
Lloyd’s spokesman Adrian Beeby pointed out that the entire Lloyd’s market doesn’t have liability for individual claims, which are the responsibility of the particular syndicates who underwrite coverage. “We’re investigating the matter,” Beeby said, “but so far all we’ve found is a company called Halt UK, which has told us that they’ve paid what they owed on the policy.” Beeby indicated that the failure to turn up any more information on the coverage may indicate that the actual policy was issued by an underwriter outside of the Lloyd’s market.
Topics Profit Loss Lloyd's
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