Half of ticket buyers refuse refund to keep souvenir tickets

Michael Jackson’s concert promoter Randy Phillips says his company AEG Live’s $17.5m Lloyd’s insurance covers the pop star for accidental death - including a drug overdose - but not natural causes, the Miami Herald reports.

Although the insurance is less than $25m to $30m Phillips said AEG Live spent on Jackson's advance, as many as half the ticket-buyers have already decided to keep their tickets as memorabilia.

AEG is likely to sell video footage of Jackson’s dress rehearsals and organise tribute concerts.

Payout far from clear

Reuters added that Jerry Kroll, an insurance industry attorney not tied to the case, said insurers would scrutinise a physical exam given to Jackson, which AEG said he passed. "It's far from clear if this claim is going to get paid," Kroll said.