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Settlement agreement reached in Michael Jackson insurance case

Thu Feb 6th, 2014 on     Insurance Claims,    

The former “King of Pop” Michael Jackson had fans throughout the world including in the Miami area. His untimely death came as a shock to many and so too likely did its cause. At the time of his death he was in the process of rehearsing for a concert tour that was being promoted by AEG Live LLC. As a part of the tour a non-appearance and concert cancellation insurance policy was purchased from Lloyd’s of London in June 2009. 

Following Jackson’s death, Underwriters with the insurer sought to have the $17.5 million insurance policy nullified. The reason provided by the insurer was that prior to his death, Jackson did not undergo the examination which was a requirement of the policy. Though the matter was slated to go to trial in late February, it was instead resolved in January. The terms of the settlement were not disclosed.

The way in which an insurance coverage dispute will be resolved varies depending on the specifics of the case. Sometimes a case will be resolved early on. Other times, such as in this instance, a case will be headed for trial. When a settlement is not reached prior to the court date, the matter will be resolved by a judge or jury.

Regardless of the way in which an insurance dispute is ultimately settled, most who have been involved in this situation would likely attest to the importance of working with a lawyer who understands the complexities surrounding these cases. Doing so could make a difference in the outcome.

Source: USA Today, “Lawsuit over Michael Jackson insurance settled,” The Associated Press,” Jan. 15, 2014

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