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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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31.

mymjj5.    

The estate collecting cash on behalf of michael's murder. Since the big boyz only understand the bottomline (money), this is a diversion I like!!!!! Good job Branca and Weiztman...........good job!

1074 days ago
32.

Katers    

Um... NO ONE GIVES A ****!!!!!

1074 days ago
33.

Eleonora49    

From loving Hands, a Beautiful tune. A song. An art. The magic creation of a Melody. A song of everlasting love.Fall under its magic spell like the first kisss. A sacred feeling of a happy hue. A song born out of love. Casting spells on one's heart. A Musican's dream came to life into the world. To make a song an art. The magic to heal and mend hurting hearts. Like Mozart's power to enchant. to please. Turn golden sounds and tones into a loving Song of love for the world.An emperess touch, it feels to all a dazzel in its own Time.A loving musican's dream to pass a magic spell to us earthly souls through all time. To Michael Jackson the greadest Musican in our Times.

1074 days ago
34.

tenley    

I don't care if suing for punitive damages does scare the crap out of insurance companies. What court on the planet will say an insurance company has to pay out on a policy when there has been misrepresenation? Sorry.

1074 days ago
35.

Areader    

Funny how the Michael Jackson estate is quick to deny those who honest claims for the Michael Jackson estate to pay, yet, they want their money pronto!

1074 days ago
37.

realist    


It's called "bad faith", and insurance companies run scared when they hear it. The punitive damages can be horrendous.


Whether it's murder, manslaughter, or accidental, still the deceased did not intend to die. Negligence or malpractice would qualify as an accident, or euphemistically a "medical misadventure".


Pay up, Lloyd's.

1074 days ago
38.

LadyD    

Thank You, Phantom. You do not disappoint. These videos are nice and some are rare. Another view into how hard Michael worked at his craft and how he made us awestruck at how he delivered a superb performance each time.

Contractual Agreements are just that and courts are there to work this out.

Prayers for the Jackson family. May their bond of love continue to keep them strong.

1074 days ago
40.

LadyD    

Thanks Again, Phantom. Never had heard this one. Really nice song. Enjoyed it.

1074 days ago
41.

kotr    

all these ppl saying no they shouldn't get it and claiming they dont deserve it need too find a whole and burry ya self. hope yawl have same situation and insurance dont pay you watch u whine...

1074 days ago
42.

sue    

So does this mean Michael Jackson is really dead Harvey? I mean really? I was so hoping it was all a hoax to trap all those MD's who overdrug celebrities and kill them. Shucks

1074 days ago
43.

PRO US    

The Jacksons love Michael Jackson so much. The more money they make off him, the more they love him. The more money they try to make off him, the more they love him. The more money they imagine making off him, the more they love him. The more money they sue others to make off Michael Jackson, the more they love him. It's such a sweet, lovely story. Sigh. Barf.

1074 days ago
44.

ken    

ok ok ok ok....now I get it. I couldn't figure out where the impetus for charging someone with a homicide on such an unclear flimsy case came from.....but now the rest of the story comes up. lloyds don't wanna pay....is anyone so naive to think lloyds wouldn't push for prosecution behind the scenes to save all that money!? seems pretty clear.....

1074 days ago
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