JACKSON CONCERT INSURANCE ONLY COVERED LOSSES FROM ACCIDENTS
The promoters behind MICHAEL JACKSON’s doomed comeback concerts are facing losing out on a $17.5 million (£11.6 million) insurance payout because the policy did not cover death related to illegal drug use.
Bosses at AEG took out the multi-million dollar policy with Lloyd’s of London in the event that Jackson failed to complete the 50 concert dates he was booked for.
The Thriller hitmaker died on 25 June (09), less than three weeks before he was due to kick off his This Is It tour at London’s O2 Arena.
Autopsy results to determine Jackson’s cause of death are still pending but numerous reports suggest the singer suffered a fatal cardiac arrest after taking a dose of powerful anaesthetic Propofol at his Holmby Hills mansion in California.
The drug is legal but is not meant to be administered outside of a medical facility, according to drug experts.
AEG could now lose out on the insurance payout because the policy only covered losses as the result of an accident.
The contract, obtained by the Los Angeles Times, states: "This insurance does not cover any loss directly or indirectly arising out of, contributed, to, by or resulting from… the illegal possession or illicit taking of drugs and their effects."
Movie & Entertainment News provided by World Entertainment News Network (www.wenn.com)
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