Insurance will cover Michael Jackson concert losses

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Story Published: Jul 2, 2009 at 8:57 PM EST

Story Updated: Jul 2, 2009 at 8:57 PM EST

LOS ANGELES (AP) - Concert promoter AEG Live's chief executive
says insurance will help cover any losses on the now-canceled
Michael Jackson concert series if the pop star died accidentally,
including of a drug overdose, but not if he died of natural causes.

Randy Phillips said Thursday that the company took out $17.5
million in insurance coverage through Lloyd's of London.

That would still fall short of the $25 million to $30 million
Phillips says AEG Live spent on Jackson's advance, producing the
show, covering some of Jackson's debts, and paying his staff and
rent.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

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