Kings of Leon’s decision to call off their US tour because of singer Caleb Followill’s health problems could cost insurers a whopping $15 million. And music insiders believe the Tennessee band could struggle to get insurance for future gigs, putting their future under threat.
Followill is widely thought to be suffering from alcohol problems, even though the official reason for the band abandoning the remaining 29 dates of their US tour is through “vocal issues and exhaustion.”
But the band’s bassist and singer’s brother Jared Followill suggested there are bigger problems when he admitted “There are are internal sicknesses and problems that have needed to be addressed. I can’t lie, there are problems in our band bigger than not drinking enough Gatorade.” Followill has been urged to seek treatment for his alleged drink problems.
But that may be too late for insurers to back them in the future. Lloyds of London – who insured the tour – estimate they may have to pay out $15 million in compensation for lost revenue and refunds.
Industry insider Elizabeth Wightman, chief operating officer for SteelBridge Insurance, in Santa Cruz, California, which regularly insures large music festivals, reckons the writing could be on the wall for the Kings of Leon.
She said: “There’s a lot of rating factors – whatever the contract says, size of the venue, age of the performer, health of the performer, how far they have to travel, plane, train or automobile. It’s kind of like a credit report. You have to earn your reputation over time. Insurance companies are going to be looking at that.”