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Cathedral Capital Ltd.’s Lloyd’s of London syndicate 2010 led the insurers settling a claim brought by rock group The Rolling Stones following the band’s cancelation of a tour to Australasia.
The Rolling Stones postponed its 2014 tour of Australia and New Zealand following the death of L’Wren Scott, the partner of Rolling Stones frontman Sir Mick Jagger, in March.
Ms. Scott was found to have committed suicide by hanging.
The Rolling Stones’ company, Stone Touring Services L.L.P., sought to recover about $12.7 million from a contingency policy underwritten by 12 Lloyd’s of London and London market companies and led by Cathedral’s syndicate 2010.
The policy covered cancellation of the tour arising from the sudden and unforeseen death of a number of named members of the bands’ families, including Ms. Scott.
But the underwriters claimed that Ms. Scott’s death was not unforeseeable.
Court papers filed in the U.S. District Court in Utah, which sought information from Ms. Scott’s brother, a Utah resident, showed that the Rolling Stones also argued that the cancelation of the tour was caused in part by the acute stress suffered by Sir Mick after the death of Ms. Scott which, the group argued, also should have been covered by the policy.
The two sides settled the claim last week.
A media company engaged in legal grappling with a wrestling legend is now finding itself tag-teamed by its own insurance company.