United Talent Agency Stands To Lose More Than $150 Million Because Of COVID-19 Shut Downs, Including GUNS N' ROSES Tour
November 16, 2020, a year ago
According to Hollywood Reporter, United Talent Agency is suing its insurers over their denial of pandemic-related coverage without doing a meaningful investigation of its claims - and says it stands to lose more than $150 million because of COVID-19 shut downs.
"At least 13 UTA employees, five spouses, and some of their dependents have tested positive for COVID-19," writes attorney Kirk Pasich in the complaint. "As a result of the presence of SARS-CoV-2 and the Closure Orders, UTA suffered losses from cancelled live events - including cancelled tours by Guns N' Roses, Post Malone, Toby Keith, Pitbull, Burna Boy, Monsta X, and 3 Doors Down - and cancelled television and motion picture production. UTA currently estimates that its financial losses, including lost profits, lost commissions, and lost business opportunities, approximate $150,000,000, and are continuing."
UTA is suing Vigilant and Federal insurance companies for breach of contract and tortious interference. Pasich argues that Vigilant and Federal's parent company Chubb National Insurance has "adopted a universal practice of denying coverage for all business interruption claims" associated with the pandemic. (Pasich in September filed a complaint against Chubb over coverage issues on Ben Affleck-led Hypnotic.)
Read the full story at HollywoodReporter.com.