Promoter's Insurance Against Jackson Concert No-Show Excluded Illegal Drugs
As Michael Jackson geared up earlier this summer for a series of planned London concerts, a $17.5 million Lloyd’s policy insured promoter AEG Live against his non-appearance “resulting from accident.”
But it also contains a provision excluding “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,” reports the Los Angeles Times.
Now the promoter apparently is waiting for the official determination of the cause of Jackson’s death on June 25 at age 50 before pushing to collect on the policy, according to the newspaper.
Meanwhile, court records show an unspecified amount of life insurance has been paid to Jackson’s mother and children, reports the Associated Press.
However, the life insurance reportedly may have amounted to only a fraction of what it might have been, because a substantial amount of coverage was allowed to lapse due to non-payment of premiums, according to the Telegraph.
Related earlier coverage:
ABAJournal.com: ” ‘No Idea’ When Jackson Autopsy Will Be Released, as Medical Probe Expands”
ABAJournal.com: “Feds Raid Vegas Home and Office of Michael Jackson Doc”
ABAJournal.com: “Debbie Rowe Agrees Katherine Jackson Will Get Kids, Retains Visitation Rights”
