Nickelback made it back to the headlines after the band announced that they'd have to cancel the rest of their tour due to Chad Kroeger's medical condition that surfaced while the band was in the middle of their "No Fixed Address" tour.

As per TMZ's exclusive update, the band is now running after Lloyd's of London, which is one of the biggest insurance companies in the world after it refused to pay them a hefty price for the cancellation of their concert.

The band sued Lloyd's for $13 million, wherein they asked the insurance company to cover their losses after Chad Kroeger needed to have the cyst from his throat removed. The company however took the matters into court stating that Chad's cyst was a pre-existing condition thus it is not covered by the insurance. To make matters worse, the company claimed that Chad's cyst already existed before signing up for the insurance policy.

Lloyd's asked the judge to void Nickelback's claims, as Chad's cyst was already present before the policy was issued. This was then countered by the band's lawyer, Howard Weitzman stating that the Nickelback front-man, Chad Kroeger has been performing around 40 shows before his cyst was formed.

The band's court documents stated that the insurance company acted in "bad faith" making way for punitive damages.

The band was left with no choice but to cancel the remaining shows of their "No Fixed Address Tour" after Chad had the cyst removed on his vocal cords in July last year. His operation required him to rest for six to nine months in order for his vocal chords to get back in shape.

Late last year, Lloyd's of London sued Chad stating the he did not inform the insurance company of his throat condition as per TMZ's report. The company's lawsuit is for the cancellation of the band's policy.

Chad released an official statement through their website wherein he apologized to their fans after the concert was cancelled.

In the statement he explained his condition, which he then added that, "I am sorry I have to interrupt the party this summer and I am definitely not thrilled with the prospect of being silent for many weeks to come when I could be out there playing for our fans."

Due to the concert's cancellation, the band's management had to refund the tickets, leaving them with a substantial loss. As of the Nickelback website on the other hand, the bank will be returning to North America to continue their tour this year.