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Dr. Susan Etok - Lloyds Of London Phone Interview

  • Thread starter Dangerous Incorporated
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It was kind of long. She called Lloyd's of London saying she was calling for the family and for Leonard Rowe adn asked questions about MJs insurance policy. She alludued to the fact that maybe for AEG MJ was worth more dead than alive. The representative from Lloyd's says he doesn't think this is the case with Mj for AEG. That it would be a loss for them. He did say, however, that Mj's death might be a plus with Sony after Susan mentioned that once an artist dies, interest in them has been renewed. He said that would help Sony not Aeg.

There was a lot more.

Anyway, thanks for posting.
 
This isn't relevant but I was nearly nodding off as I am so tired but when she screamed OH MY GOD after the guy told her about him googling his name and being misquoted that really scared me!
 
Thanks for posting this DI!

I don't have time now to pick up on all the detalis of this, but something important sticks out to me that I wasn't aware of before is that Lloyds of London is not an actual insurance company, but rather a marketplace for insurance companies.

Wikipedia explains this better than I could so I'll just quote from there:

http://en.wikipedia.org/wiki/Lloyd's_of_London

Lloyd's, also known as Lloyd's of London, is a British insurance and reinsurance market.[1] It serves as a meeting place where multiple financial backers, underwriters, or members, whether individuals (traditionally known as Names) or corporations, come together to pool and spread risk. Unlike most of its competitors in the insurance and reinsurance industry, it is not a company.
...

Lloyd's itself does not underwrite insurance business, leaving that to its members (see below). Instead the Society operates effectively as a market regulator, setting rules under which members operate and offering centralized administrative services to those members.
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I totally wasn't aware of this before, this means that the actually insurance policy for the O2 concerts would have been issued not by Lloyds of London, but one (or a syndicate) of their members. (The guy on the phone doesn't know who the actual insurers are.)

So, do we know anything about which company or companies actually insured AEG? I don't remember hearing anything about this.
 
Wow thats some great information there thank you. I did not know this. Hmmmm, so who the heck did insure MJ? Its still odd that AEG would insure MJ for drug abuse. Thats not a common practice as a lot of musicians are drug abusers and dont have insurance for that.
 
I don't think they were insured for drug abuse specifically, that would be very unusual.
I think they were insured for accidents in general, at least that's what I gather from what Randy Philips said in the summer.

http://www.nypost.com/p/news/national/item_hv3K1DxMufg5w9OEcvHO2N

The development came as AEG, which owns the Staples Center and was promoting what was to be the King of Pop's comeback tour, said yesterday that it expected a $17.6 million insurance payout from his death.

"If it was an accidental death, then we have a claim," said AEG's chief executive, Randy Philips, adding that a drug overdose would qualify as accidental.
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It was later said however that the policy specifically excluded "illicit drug use" (which would be very typical, so I think it's true):

http://www.nydailynews.com/entertai...son_insurance_excluded_illicit_drug_use_.html

The insurance taken out on Michael Jackson for his London concert series does not cover cancellations if the pop star was found to have illegally possessed drugs or was involved in the "illicit taking of drugs," according to a copy of the policy provided Friday to The Associated Press.

It was not immediately clear whether any medications Jackson was taking would negate a payout up to $17.5 million, which would ultimately benefit his estate.
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So imo the confusion is about what is considered illicit drug use (apart from illegal drugs obviously). At the time Randy Philips made that statement (July 3/4) it exact cause of death was not known yet. It's possible that AEG believed that prescription drugs administered by a doctor will not be interpreted as illicit drug use and be covered.

From all the stories we've heard that's how if 'fits' together for me.
 
Lloyd's of London are quite an old company and a very rich company.
It says on 'Wikipedia' they made some of their money in the "British slave trade".

Lloyd's of London were the people who advised Michael Jackson to pay Evan Chandler off so they were in MJ's life way back then.

Elvis Presley was also insured by Lloyd's of London for concerts but sadly he never did his concerts as he died before he could do them just like what happened to Michael Jackson.
 
EarthSong100 said:
Lloyd's of London were the people who advised Michael Jackson to pay Evan Chandler off so they were in MJ's life way back then.

Elvis Presley was also insured by Lloyd's of London for concerts but sadly he never did his concerts as he died before he could do them just like what happened to Michael Jackson.
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Really? Interesting info. Thank you.
 
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