The concert promoter behind Michael Jackson's canceled 50-date concert series says its multi-million dollar losses might be covered by insurance, depending on Jackson's cause of death.

Randy Phillips, the chief executive of AEG Live, the concert promoter, tells the Associated Press that insurance will help pay for the losses on Jackson's canceled residence at London's O2 arena if the King of Pop's death is ruled accidental -- even if by drug overdose - not if, however, Jackson passed away due to natural causes.

Phillips says AEG Live acquired $17.5 million in insurance coverage via Lloyd's of London. But the company spent $25 million to $30 million in advance money for production costs and to Jackson and his staff, covering expenses that included Jackson's debts and the rent on his L.A. mansion.

Phillips adds, though, that close to half of the fans who bought concert tickets have thus far chosen to keep their tickets as mementos rather than seek full refunds, which AIG Live is offering. The concerts generated almost $85 million in ticket sales and at that rate the company might break even on its spending, or do better, when all is said and done, says the AP.