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AEG insurance covered accidental overdose
By CMU Editorial | Published on Tuesday 7 July 2009
And finally from the Jacko file today, more reports on AEG Live’s insurance in relation to the fifty night Jacko residency that never was.
As much previously reported, the extent and nature of the promoter’s insurance policy has been much debated, with speculation that only a portion of the production was insured at all, and what insurance was in place may not pay out depending on the results of the toxicology tests being undertaken by the LA coroner investigating the cause of the singer’s death.
However, according to new reports, the insurance policy that we do know was in place, through Lloyds Of London, reportedly did allow for the singer to die from an accidental drugs overdose, the current favoured theory for Jacko’s demise. That would mean that if a shot of one of the prescription drugs Jacko was rumoured to rely on caused his cardiac arrest, the insurers may well pay out. If, however, he is shown to have died from a existing medical condition of which the Jackson clan were aware, a payout is less likely.
It’s thought that policy would be worth a total of £11.7 million. It’s also thought AEG spent up to £25 million on its preparations for the Jacko residency. However, with the promoter expected to make millions from its previously reported ‘keep your ticket for fifty quid’ scam, plus the potential of earning from the rehearsal footage the promoter says it owns, AEG could as yet profit from the whole Jacko venture.
