March 1, 2001 – The Black Crowes yesterday have filed a multi-million dollar lawsuit against international insurance company Lloyd's of London for breach of contract and bad faith stemming from the cancellation of their joint U.S. tour dates with Jimmy Page – the legendary Led Zeppelin guitarist – last year. The company has refused to honor the agreement that would compensate the artists for the loss of profits and expenses caused by the cancellation of any tour dates.

Before they embarked on last year's tour together, Jimmy Page and the Black Crowes purchased a policy from Lloyd's, insuring against loss in the event that any portion of the concert tour was canceled. After a successful first leg of the tour (June 24 - July 10, 2000), Page fell ill, necessitating the cancellation of most of the second and all of the third legs of the tour.

Despite Lloyd's willingness to accept the artists' payment of the premium and readily insure the tour dates against cancellation, they have refused to honor its own policy of insurance and justly compensate the Black Crowes for their losses. As it states in the suit, Lloyd's placed "their own self-interest ahead of the rights and needs of their customers" and "Lloyd's has embarked on a malicious course of conduct that threatens the interests, rights and livelihood of the Black Crowes."

The suit cites that cancellation of the tour dates "resulted in great financial loss" to The Black Crowes "in both loss profits and expenses irrevocably incurred in the preparation for the canceled concert dates."

The suit was filed in Los Angeles. The Black Crowes seek punitive as well as compensatory damages against Lloyd's of London.