Michael Jackson – Concert Insurance

Michael Jacksons death has not failed to make the headlines recently and people seem to have an unending appetite for news on the deceased star.  His army of uber-faithful followers and the intrigues of his health and family life have made the death of the pop star a global news story with real legs.

At Superquote, we don’t want to miss out and so we wanted to highlight a concert insurance policy that may be called upon following the stars death.  AEG the concert promoters paid 25m$ to cover the series of concerts in Michael Jacksons world tour.  However, achieving a payout for the organisers may be far from certain and may take some considerable time to work out.

The policy was sold from a UK specialist, Robertson Taylor, which provides cover in case performers let concert organisers down.  The underwriters were a Lloyds syndicate used to underwriting these types of risks.  The broker has not confirmed the size or detail of the cover. 

Payout will be dependent on whether the clauses of such a policy exclude certain types of performer deaths.  For example the policy may exclude suicide and that may be an arguable point.  Who administered what drugs at whose instruction may come under the spotlight as the clauses of the contract are scoured to see if a valid claim can be made.