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Michael Jackson insurance policy lawsuit settled

Attorneys say they have resolved a lawsuit over the payout of Michael Jackson's concert cancellation policy.

Lawyers for Certain Underwriters at Lloyd's of London and Jackson's estate announced the settlement in Los Angeles on Wednesday.

Lloyd's had been seeking to nullify a $17.5 million non-appearance and concert cancellation policy that it issued roughly two months before Jackson's death in June 2009. The insurer contended that an examination of Jackson that was required for the policy was not completed.

Howard Weitzman, an attorney for Jackson's estate and Paul K. Shrieffer, who represented Lloyd's, did not offer any details about the resolution in court.

A trial had been scheduled for Feb. 24.

The insurer had initially sued Jackson's concert promoter, AEG Live LLC, but the company was later dismissed.

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