Jackson tour set to cost Lloyd's $154m

LLOYD'S of London stands to lose US$20 million (HK$154.48 million) over the cancellation of Michael Jackson's Dangerous tour, a spokesman said.

It was unclear whether the insurance company, famous for covering everything from jumbo jets to movie stars' legs, could also face claims for millions more over Jackson's lost earnings.

The Lloyd's spokesman, Matt Huber, confirmed that they provided US$20 million cover for the promoters of Jackson's tour, which the singer cancelled last year, saying he was addicted to painkillers.

''Obviously, if that's a valid claim, it would be paid,'' Huber said.

At the time, Jackson was facing a flurry of allegations, though no criminal charges, of child molestation.

Lloyd's would release few details of the promoters' claim, saying the underwriters were declining to say much about the case.