They should’ve known better!!
The Lloyd’s of London insurance policy taken out by concert promoter AEG to cover costs in the event that Michael Jackson could not perform his London concerts, may not be valid, as it did not cover death due to illegal drug use.
Oops!
According to the L.A. Times, “This insurance does not cover 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.”
The policy, which covered $17.5 million, only reimbursed losses resulting in an accident. The popstar’s death would have been covered if he had undergone a second physical.
Better to be safe than sorry!
AEG claims to be in the hole for $30 million.
Ouch.
[Image via WENN.]
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