JACKSON’S INSURANCE POLICY INCLUDED DRUG OVERDOSE
The concert promoters behind MICHAEL JACKSON’s comeback tour will receive a multi-million dollar payout from the show’s insurers if reports linking the superstar’s passing to drugs are correct - because their policy covers death by overdose.
AEG Live bosses took out a $17.5 million (£11.7 million) insurance policy from Lloyd’s of London in the event a health crisis would cause Jackson to pull out of his 50-date London residency.
Following his sudden death last week (25Jun09), rumours have swirled about the Thriller hitmaker’s prolonged dependence on prescription drugs, with some reports suggesting his cardiac arrest was triggered by an accidental overdose.
Further tests to determine the singer’s cause of death have been ordered by the Los Angeles coroner’s office and the results are expected within weeks.
If drugs are proved to have played a part in Jackson’s untimely passing, AEG executives will be able to recoup some of their massive losses - but not if he’s ruled to have died of natural causes, according to the company’s chief executive Randy Phillips.
Movie & Entertainment News provided by World Entertainment News Network (www.wenn.com)
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