We counted at least 3 'Pablo' tracks where 'Ye mentions struggling with depression and/or his mental health. For example, on "FML" ... 'Ye raps about taking the antidepressant Lexapro -- used to treat bipolar disorder among other things -- and a specific episode that went down while off the drug.

Then there's "No More Parties in L.A." where Kanye gives a shout-out to his psychiatrist, and "Feedback," where he raps "I've been outta my mind a long time."

As long as Kanye disclosed those preexisting conditions to the insurance company ... it would most likely be on the hook to cover costs, including his salary, for the cancelled tour dates.

Key question for the insurance co will be whether Kanye was as open with its agent as he was with fans.