This is It

Settlement Reached in Michael Jackson Insurance Lawsuit

Michael Jackson’s estate executors have settled a $17.5 million lawsuit filed against bosses at top insurance company Lloyd’s of London after they refused to pay out following the King of Pop’s death.

The pop superstar’s representatives took out the big-money policy on the singer’s ill-fated This Is It concerts two months before his passing in June, 2009, and made a claim for compensation when the shows were scrapped after his death.

Lloyd’s of London chiefs originally issued the policy to cover potential losses for the London residency, but in 2011, company bosses asked a judge in Los Angeles to declare the documents null and void, claiming Jackson lied about his medical history and drug addiction.

They insist the policy was restricted to “losses resulting from accident only”, stating the Thriller hitmaker’s official cause of death was listed as homicide.

The case was due to go to trial next month, but the two parties have avoided a legal showdown by reaching an out-of-court agreement.

The news was announced by both parties on Wednesday, but details have been kept under wraps.

Jackson died from a Propofol overdose in 2009. His personal physician, Dr. Conrad Murray, was convicted of involuntary manslaughter for administering the fatal dose of the anaesthetic, and spent two years behind bars. He was released in October.

News of the insurance settlement emerges two days after a Los Angeles judge rejected Katherine Jackson’s latest bid for a new trial in her high-profile negligence case against This Is It promoters at AEG Live.

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Katherine Jackson Has No Regrets Over AEG Lawsuit

Michael Jackson’s mother Katherine insists that she does not regret suing AEG Live executives over her son’s untimely death four years ago.

Last week, a 12-person jury concluded that although AEG bosses hired Dr. Conrad Murray as Jackson’s personal physician ahead of his ill-fated This Is It gigs, they were not guilty of the superstar’s death as the doctor was not “unfit or incompetent to perform the work for which he was hired”.

Although the ruling means AEG Live chiefs do not face a compensation bill, Katherine Jackson insists she stands by her decision in filing the wrongful death lawsuit against the concert promoters, according to editors at TMZ.com.

A source tells the website, “Any reports that Katherine Jackson is feeling remorse for filing the wrongful death lawsuit are completely untrue. Mrs. Jackson feels the lawsuit is very important, and that so far it has proven that AEG did in fact hire Dr. Murray.”

Jackson’s mother is reportedly planning to meet with the jurors in the case before deciding whether to appeal against the verdict.

The Thriller hitmaker died in June, 2009 from an accidental overdose of anaesthetic.

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