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Business News Jacksons v AEG Timeline Live Business
AEG may self-insure Jacko residency
By CMU Editorial | Published on Tuesday 17 March 2009
Back to Michael Jackson, and following those reports that promoters and Dome owners AEG were struggling to find a insurer willing to insure all fifty dates of the star’s planned O2 residency, presumably nervous the singer is not up to fulfilling such a long commitment and not wanting to face the £300 million bill a full cancellation may result in, news today that the live music giant might insure the dates themselves if necessary, which presumably means they’d put aside the £300 million (or some such figure) just in case.
The Daily Telegraph quote AEG chief Randy Phillips as saying: “We would be prepared to self-insure to make up the dates. It’s a risk we’re willing to take to bring the King Of Pop to his fans”. As previously reported, Phillips says talks with insurers are ongoing, and denies Jacko’s health is potentially a problem, saying: “The insurance brokers sent doctors and they spent five hours with him, taking blood tests. He’s a vegetarian, he’s in great shape”. And who ever saw an unhealthy vegetarian?
