Broadway Shows Getting (and not) Insurance Payments

[macbeth]

Posted: 4/1/21 at 6:53am

https://www.forbes.com/sites/marchershberg/2021/03/31/insurers-snub-broadway-shows-creating-uneven-playing-field/?sh=12cff43c2bcd

This was a great read on something that I know has been discussed here in the past. 

[Call_me_jorge]

Posted: 4/1/21 at 1:05pm

Mostly thinking about how the lawyer fees to fight the insurers might just be the same amount as what they are trying to get. What an awful situation these shows are in.

[ggersten]

Posted: 4/1/21 at 1:36pm

Left out of the article are the secondary lawsuits if the insurers prevail:

(1) Production vs. insurance agent for not getting policy without a virus exclusion

(2) Investors against producer for not getting policy without a virus exclusion.  

Of course, both sets of claims are very fact dependent as to representations and requests.  

 

Updated On: 4/1/21 at 01:36 PM

[Fosse76]

Posted: 4/1/21 at 4:35pm

Call_me_jorge said: "Mostly thinking about how the lawyer fees to fight the insurers might just be the same amount as what they are trying to get. What an awful situation these shows are in."

They can request legal fees as well if it is determined the denials are bad faith.

[JSquared2]

Posted: 4/1/21 at 4:56pm

Call_me_jorge said: "Mostly thinking about how the lawyer fees to fight the insurers might just be the same amount as what they are trying to get. What an awful situation these shows are in."

Wrong.  The potential payout from the insurers would be in the millions of dollars.  Attorney fees --- even should the case go all the way to trial (which they won't) would be a couple hundred thousand.