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MJ ESTATE to LLOYD'S OF LONDON

This Is It. Now Pay Up!

8/17/2011 2:34 PM PDT BY TMZ STAFF

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The Michael Jackson estate is tired of waiting for Lloyd's of London to pay out on the $17.5 million "This Is it" insurance policy -- so they're going after Lloyd's in court ... demanding they pay up, stat.

Lloyd's of London originally issued the policy to cover potential losses for MJ's 2009 "This Is It" concerts -- but earlier this year, the company asked an L.A. court to declare the policy null and void ... claiming MJ lied about his medical history and drug addiction.

Lloyd's insists the policy "was restricted to losses resulting from accident only" -- pointing out Michael's official cause of death was "homicide."

But the estate is now on the offensive -- filing a cross-complaint, claiming MJ never intended to die, whether by homicide or not, so his death still qualifies as an accident.

But the estate isn't just settling for the original $17.5 million -- they also want punitive damages.  FYI, suing for punitive damages often scares the crap out of insurance companies.


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124 COMMENTS

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16.

Eleonora49    

Michael was worth a lot more than that !!!!His insurance should have been for Billions.

1129 days ago
17.

Rogue Warrior    

This family is disgusting and I hope Lloyds tells them to STFU! He was a drug addict and pedophile who slept with little boys! FACTOID, notice how there weren't any little girls involved. Watch how much time I get if I were to even let children "sleep" in my bed. F off the Jackson Estate and give your money hunger pathetic lives UP!

1129 days ago
18.

John    

that is what he paid insurance for, this is not something new. therefore the insurance company should stop playing around and pay up. remember MJ paid into this policy, so if they r not honest to honor the policy return all the money that he invested in it.

1129 days ago
19.

Barb    

@FresnoBullpup: - Not sure what the law is now, but "homicide" used to be considered "accidental death" as far as life insurance was concerned.

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Actually I hadn't thought of that. Unless a person dies by his own hand (suicide) it would be considered an unintended death, no matter the cir****tances. I guess families of murdered victims get payouts all the time. I amend my prior comment! I wonder how the policy actually reads (the fine print).

1129 days ago
20.

bahhh    

It makes me sick how the Jackson family is going after everyone and anyone associated with Michael Jackson for money. If Michael was not an addict chances are pretty good he would still be alive today, and none of this would be happening. Time to lay the blame where it belongs. Stop trying to milk everyone ever associated with MJ for $$$. Shame on you!!!

1129 days ago
21.

Beatriz Girón    

YA era hora que los abogados tomaran acciones sobre todo este desorden...y sobre ese concierto homenaje a Michael deben actuar de inmediato estos organizadores son una cómica.Michael Jakson forever!!! Gracias TMZ,nos actualizas!!!

1129 days ago
22.

jack     

I'm surprised he was even able to get insurance considering the state he was in. Isn't the estate making enough money? Why so greedy?

1129 days ago
25.

FABIO    

Change the cause of death to "Stupidity" and tell the MJ Estate to STFU...

1129 days ago
26.

Warren    

He was being medicated by a license doctor for anxiety and insomnia. Dr. Conrad Murray is charged with Involuntary manslaughter. Reads like an accident to me. Maybe Lloyds can sue Murray for the money they pay out.

1129 days ago
27.

janet    

W

1129 days ago
28.

mj fan forever    

THESE LOSERS ARE TRYING NOT TO PAY FROM THE FIRST MOMENT TRYING TO FIND A LOOPHOLE AFTER ANOTHER WHEN THEY KNOW VERY WELL THAT MICHAEL JACKSON WAS NOT A DRUG ADDICT AS THE CORONER STATED HE WAS NOT AT ALL!!! AND IF THEY KNOW THAT THE CASE WAS FILED AS A HOMICIDE THEN THESE BUNCH OF PROFITEERS SHOULD ALSO KNOW THAT THERE IS NO TRACE OF DRUG ABUSE BUT OBVIOUSLY THEY DELIBERATLY SKIPPED THAT PART SINCE THEY SIMPLY WANT TO AVOID TO PAY OUT!!! SO THE ESTATE IS DOING AN EXCELLENT JOB AND IT'S TIME IT FORCES THEM TO PAY AS IT'S ONLY RIGHT!!! SHAME ON THEM!!!

1129 days ago
30.

Michael    

I'm sorry, but this just shows how much o*****roup of money grubbing s***bags the estate really is! Why they don't just join forces with Oksana i don't know!

1129 days ago
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