Policy could be void if drugs were deemed to have been taken illegally

The insurance claim for Michael Jackson’s O2 residency may become void if the autopsy shows he took drugs illegally.

Reports have suggested that the singer suffered a fatal cardiac arrest after taking a dose of propofol, a powerful anaesthetic.

The drug is legal but drug experts have said that it should not be administered outside a medical facility.

The autopsy results have so far been delayed twice, following the star’s death on 25 June.

An estimate in March showed that insurers had about $300m (£182m) exposure to the 50 concerts.

Last month, Insurance Times revealed that Talbot Underwriting provided 25% of the cancellation cover for promoter AEG Live. Sources said that Cathedral Underwriting was the lead with 50% exposure.

Reports in July said Robertson Taylor, a subsidiary of Oxygen Holdings, placed the cover on behalf of AEG Live.

Topics