AEG’s Insurance on Jackson Fell Through

AEG took out a huge insurance policy in case Michael Jackson’s 50 London concerts but it fell through.

AEG’s chief executive Randy Phillips said the $17.5 million insurance policy from Lloyd’s of London only covered a Michael Jackson overdose but didn’t cover a death from natural causes.

Phillips said the policy would still fall short of the money spent on Jackson’s advance, producing the show, covering some of Michael’s debts and paying his staff and rent, which cost between $25 and $30 million.

Source Via TMZ.com

Posted Under: Celebs
This post was written by Monica on July 3, 2009 Write a Comment (1)