Settlement Reached Over Michael Jackson’s $17.5 Million Insurance Policy
After three years of litigation between Lloyd’s of London, the insurers of Jackson’s “This Is It” tour, and Jackson’s estate, attorneys for the estate advised the court on January 15th that they have settled with the insurer over a $17.5 million insurance policy. The case was scheduled to begin trial in February.
The terms of the settlement were not disclosed. Jackson’s estate litigation attorney, said in a statement, “The estate and Lloyd’s of London are glad this matter got resolved.”
Lloyd’s Cites Non-disclosure & Deceit
Lloyd’s had filed a lawsuit claiming it did not have to honor the policy it had issued to cover losses from the ill-fated “This Is It” tour, alleging it had been deceived because no one ever disclosed to the insurer that Jackson had a drug problem. On that basis, the insurer had asked the judge presiding over the case to nullify the policy.
Jackson died in 2009 from an overdose of propofol while preparing for his series of comeback concerts. The insurance policy was taken out to cover the cancellation or postponement of the London concerts in the case of the death, accident or illness of Jackson.
The possibility of the case heading to trial could have once again brought in testimony about Jackson’s private life and final days months after it was put on display in a wrongful death suit filed by Jackson’s family against the concerts’ promoter, AEG Live.
BLG Obtains Dismissal of Star Witness
In 2011, the Boesch Law Group obtained a dismissal of star witness, Kenny Ortega as a defendant in the Michael Jackson wrongful death case. Then, in September 2013, a jury found in favor of defendant AEG Live, and against the Jackson plaintiffs in that portion of the wrongful death case that went to trial.
When asked what was the most important evidence in the case, said the jury foreman, “the testimony of Kenny Ortega,” Jackson’s friend, the director of “This Is It,” and the Boesch Law Group client who appeared twice as a witness before the jury.
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