• About you
  • About risk
  • Opinion
  • Applying

Superstars need quotes for their throats

Grammy award winner Adele recently announced the cancellation of her remaining live dates and promotional appearances for 2011 after suffering continuing problems with her voice.

In October, Adele cancelled her 10 date US tour after being diagnosed with a vocal cord haemorrhage.   It has since been confirmed that she now needs surgery to alleviate the ongoing problems she has with her throat.   Doctors have strongly advised her to rest her voice and completely recuperate before scheduling any work commitments.  If she fails to do so, the results could be catastrophic for Adele, as she explains on her website, "I have absolutely no choice but to recuperate properly and fully, or I risk damaging my voice forever".

Adele isn't the only artist to cancel tours as a result of poor health.   Earlier this year at a Dallas show, American rock band Kings of Leon were forced to stop their show mid-concert as lead singer Caleb Followill announced he was too unwell to finish. Three days later the band cancelled their remaining 29-city American tour, citing Followill's "vocal issues and exhaustion".  Click here to read the full story.

Thankfully for the fans, promoters, venues, and others who lost money from the tour, Kings of Leon covered the possibility of tour cancellation by taking out a $15 million insurance policy at Lloyds of London

One tour cancellation policy that is still in the news two years on is the $17.5 million claim that AEG submitted for the 50 date Michael Jackson concert. You might remember that we wrote a story about this earlier on in the year.

There are some key roles in the risk sector which play a huge part in assessing the risks involved with putting on tours.  An underwriter, for example, decides whether or not to accept the application for tour cancellation insurance, and would then decide under what terms the application is accepted.  Whilst a risk manager would help the insurer understand the potential financial risks of offering tour cancellation insurance.   You can find out more about underwriting, risk management, and other roles in the risk sector here.

« Back to all news
blog comments powered by Disqus
IAG | Terms & Conditions | Cookie Policy |Sitemap | © Copyright 2016 The Chartered Insurance Institute. All rights reserved

Website by itineris | Email Marketing by Little Green Plane