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Insurance?

movingcoolcat

movingcoolcat

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Can someone please confirm that the insurance covered death by overdose, and not death by natural causes?
Is there a link, or a trusted source that confirms this?

Its a very important piece of information, and is very unheard of in the insurance business, so any confirmation on this fact would be very important.

Thank you!

( I have done a search, but all I could find is rumors about this).
 
http://www.mjjcommunity.com/forum/showthread.php?t=71183&highlight=Insurance+policy


This thread has some information, and from what I can see- the insurance company would have their reservations about this. Especially if this is judged as a homocide.
I highly doubt that the insurance will be paid without the insurance company protesting from here to eternity. Witch means that this is not as important to the case as it may seem.
 
Well, this is something that we will hear of - because if the insurance company is asked to pay out now, I am shore they will refuse. And it will end up in court. I highly doubt that this is in any way linked to why Michael died, because the eventual gain from that for AEG would be difficult to get.
 
Do not know if this is trustworthy, but there are some interesting things here:

http://www.variety.com/article/VR1118007650.html?categoryid=16&cs=1&ref=mv

The unofficial L.A. County coroner's report that ruled Michael Jackson's death a homicide brings up more questions than it answers. Because the circumstances surrounding the singer's death on June 25 are subject to an ongoing police investigation, it has yet to be determined what amount of money, if any, will be paid by the insurer Lloyd's of London to partially cover the singer's 50 concert dates at London's O2 Arena.

The $17.6 million policy bought by the Anschutz Entertainment Group was a partial policy that would not have covered all the shows. The agreement called for payment in the event of "cancellation, abandonment, postponement or interruption," according to Michael Roth, VP communications for AEG.
"If it's proven that he died a particular way then the insurance policy will pay, and if it's proved that he died in a different way then the insurance policy won't pay, and I don't think anybody really knows."
Roth added that an initial four-hour medical exam given to Jackson in Los Angeles in early February by Dr. David Slavitt of New York was commissioned by Lloyd's. The exam included blood work.
"We have never been provided a copy of the examination results," Roth said, "which is pretty customary with insurance and medical privacy laws." He said Slavitt "had no affiliation with AEG."
Slavitt granted the singer a clean bill of health. But Lloyd's required a second medical exam when the singer was to arrive in London closer to the July 13 kick-off show, and, if Jackson had passed the exam, it would have covered the remainder of the shows.
At this juncture, AEG has recovered its $30 million investment in the tour, mostly via its deal with Sony for a concert film gleaned from around 200 hours of footage taken during rehearsals in Los Angeles, some of which took place at Staples Center, which is owned by AEG. If paid, 100% of the policy will go to the Jackson estate, as per an agreement with AEG.
The homicide ruling doesn't necessarily translate into murder or manslaughter. The coroner concluded that a fatal combination of drugs was administered to Jackson hours before he died June 25, according to an official who spoke to the Associated Press on condition of anonymity since the findings remain sealed. Tests revealed that the powerful anesthetic propofol -- normally used in surgeries -- together with at least two other sedatives, caused Jackson's death.
According to a search warrant affidavit unsealed Monday in Houston Dr. Conrad Murray, who was Jackson's personal physician at the time of his death, told investigators he administered a 25mg dose of propofol (brand name Diprivan) at approximately 10:40 a.m. after spending the night injecting Jackson with two sedatives in an attempt to induce sleep. The coroner's toxicology report found other substances in Jackson's system, but they were not believed to have contributed to his death, according to the unidentified official.
Last week, Murray released a video on YouTube declaring that he was truthful to authorities. "I have done all I can do. I told the truth and I have faith the truth will prevail," he said in the brief video. Calls to Sony Music Entertainment and John Branca, lead attorney for the Jackson Estate, were not returned.

So the policy will go to the estate? Meaning his children?
 
But when did AEG agree that 100% of the policy would go to the Jackson estate? Was that AFTER 25th June? If AEG took out an insurance policy, surely the original purpose was to cover their costs, not Michael's?
 
Just to share...you can look at the contract between AEG and Artistco (The Michael Jackson Company, LLC), there is an Insurance clause on page 9. It says that the Promoters (AEG) were to acquire (and artist--MJ--would approve and cooperate in) "life insurance, non-performance, cancellation and other insurance." It also says that Artistco (which again is MJ) would have to also acquire cancellation insurance that would name the promoters as loss payees, to cover any of their losses; and that any extra proceeds after the losses were recouped would go to Artistco (note this is just for cancellation). It also mentions that each party shall obtain CGL insurance (which is Comprehensive General Liability) as well as automobile and worker's compensation insurance.

Just thought it was interesting to read the contract. Here's the link, in case it's not been posted before.

http://www.radaronline.com/sites/default/files/AEG contract.pdf
 
slimblonde2 said:
But when did AEG agree that 100% of the policy would go to the Jackson estate? Was that AFTER 25th June? If AEG took out an insurance policy, surely the original purpose was to cover their costs, not Michael's?
Click to expand...

um, yes of course. There was NO MJ estate prior to June 25th. read the following paragraph again:

"At this juncture, AEG has recovered its $30 million investment in the tour, mostly via its deal with Sony for a concert film gleaned from around 200 hours of footage taken during rehearsals in Los Angeles, some of which took place at Staples Center, which is owned by AEG. If paid, 100% of the policy will go to the Jackson estate, as per an agreement with AEG. "

According to the article, it means since AEG 'recouped' their investment money they put upfront for the tour due to the deal with Sony for the film, the insurance money goes to the estate. So, the estate and AEG have worked out this deal on the policy $.

I ain't saying its true or not, I am saying that this is what the article says.
 
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