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The U.S. District Court for the Southern District of New York has decided that an insurer must pay out the majority of a $12.5 million limit on a key man insurance policy taken out on the manager of a pop band who died from a blood clot in 2017. The case is Roc Nation LLC v. HCC Int’l Ins. Co., PLC, 2021 U.S. Dist. LEXIS 40825 (S.D.N.Y. Mar. 4, 2021).

The policy, which was drafted with the intent to cover revenue related to Jordan Feldstein, the manager of pop band Maroon Five, at the time of his death, was imperfectly drafted. The ruling said that any revenue recovered after the talent manager’s death by the company that was in the process of buying him out, Roc Nation LLC, should not be subtracted from the claim.

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