Concert promoter AEG Live's chief executive says insurance will help cover any losses on the now-cancelled Michael Jackson concert series if the pop star died accidentally, including of a drug overdose, but not if he died of natural causes.
Randy Phillips said on Thursday that the company took out $US17.5 ($27.8) million in insurance coverage through Lloyd's of London.
That would still fall short of the US$25 million to US$30 million Phillips says AEG Live spent on Jackson's advance, producing the show, covering some of Jackson's debts, and paying his staff and rent.
