The shift away from the tangibles that the insurance industry has always dealt with to these intangible risks “should increase the demand for sophisticated risk-management expertise,” he says.

While brokers continue to focus on the nuts and bolts of policies and what they protect at what cost, the industry must also “respond to the larger trends at work that may be shaping our industry for years to come,” says Plumeri.

“Our roles as partners in the success of our clients and of society in general could be ready to surge forward,” he says. “We have built a foundation for the growth of our industry.”

On the issue of pricing, the report says rates going into 2012 will be flat to modestly up or down for most lines of business. But there are exceptions.

Catastrophe property or properties with poor loss experience will see rate increases in the range of between 7.5 percent and 12.5 percent, according to the report.

Increasing health-care costs could push employee-benefit rates up 10 to 12 percent.

Errors and omissions with poor loss experience could see increases as high as 20 percent toward the end of 2012.

Other lines with notable fluctuation in pricing include construction and trade credit. Willis predicts construction could run flat to more than 10 percent while capacity in the trade credit line could put rates at flat to down 10 percent.