Despite recently strong financial results, insurers might be teetering on the brink of disaster unless they exercise financial responsibility, embrace globalization and better educate the public about their industry, a top Lloyd’s official warned here last week.

Julian James, Lloyd’s director of worldwide markets, noted forecasts that 2006 profits for property-casualty insurers could be the best in 51 years at up to $60 billion, with return on equity of 14.5 percent.

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