AEG Drops Insurance Claim

AEG, the concert promoter behind Michael’s ‘This Is It’ tour, has dropped its claim to collect on a $17.5 million insurance policy on Michael after the insurance company claimed AEG hid the extent of Michael’s health problems.

AEG also states that they had been considering this decision for months.

A representative for Lloyds told CNN; “In exchange for AEG withdrawing its insurance claim, underwriters agreed to dismiss AEG from the case and to waive any costs recoverable from AEG.”

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Source: TMZ & MJWN