AEG chief executive Randy Phillips has reportedly confirmed that the company would be prepared to self-insure Michael Jackson in the event of a shortfall in insurance coverage for all the singer's concerts.

"We would be prepared to self-insure to make up the dates. It's a risk we're willing to take to bring the King of Pop to his fans," Phillips is quoted in the Daily Telegraph.

Phillips added that Jackson is in good health.

"The insurance brokers sent doctors and they spent five hours with him, taking blood tests. He's a vegetarian, he's in great shape. The insurance cover, we are working on that now," he said.

It follows reports on the Reinsurance Magazine Web site, which said there was low demand in the London insurance market for the whole policy to cover all 50 O2 Arena dates promoted by AEG Live, believed to be worth around £300 million ($423.57 million).

The first 10 concerts are said to have been placed on the market at a value of £80 million ($112.95 million). Music and live event insurance broker Robertson Taylor, who is understood to be brokering the cover, did not comment.