Concert Promoter's Insurance Covers Overdose!

AEG, the promoters of Michael Jackson’‘s planned 50 date residency at London’s O2 Arena, prepared themselves for anything, including MJ’s death.

The company took out a hefty insurance policy that would somewhat cover the expenses should MJ’s death be an overdose. However, strangely enough, AEG’s chief executive, Randy Phillips, said the $17.5 million policy DID NOT cover a death from natural causes.

However, even with the policy in place, the company will still be in about $25-$30 million in debt due to Michael’s sudden death.

[Image via WENN.]