NRG Park — the site of the disastrous Astroworld festival — has an insurance policy totaling $26 million … far from what the injured and families of the dead will look for.
TMZ has obtained the certificate of liability insurance… a document filed with the City of Houston. Proof of insurance is required for such events.
The policy provides $1 million primary coverage with a $25 million umbrella. Of 8 dead and more than 300 injured, damage could run into the hundreds of millions of dollars.
If the policy does not cover the statements, NRG is responsible for anything above the policy limit.
Now it is possible that NRG has additional coverage, but there is no evidence of that from the documents.
We do not know which insurance policies are carried out by Live Nation of Travis Scott, although it is certain that they have some coverage. But whatever it is, when you add it all up, it’s unlikely to cover the massive judgments that may come their way. If the injured and the families of the dead get a verdict, the policy will cover them as far as the money goes, but once the limit is reached, Travis and the various companies would be in personal trouble.
It’s not that the policy isn’t well-written, because no one could have foreseen the magnitude of the disaster.
The lawsuits are already pile up, so these policies can mean the difference between the various defendants being protected from personal liability… and bankruptcy.