Live Nation is suing its insurance company for refusing to cover hundreds of millions in losses caused by the coronavirus pandemic.Litigation
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.
Live Nation is the latest company to join a growing group who say that Rhode Island-based insurer Factory Mutual has failed to pay out claims on its Global Advantage All-Risk property insurance policy.
The touring giant purchased the policy ‘at significant expense’ on June 1, 2019, for coverage through June 1, 2020, states the filing, submitted by Live Nation’s outside counsel Marc D. Halpern.
The policy "specifically designates communicable disease as a covered cause of loss."