NU Online News Service, Nov. 3, 2:51 p.m. EDT
Despite the significant amount of catastrophe losses and stress from the weak economic conditions, the insurance industry could be on the cusp of taking off as the demand for the industry's risk expertise continues to grow, the chief executive of Willis Group says.
In its just-released “Marketplace Realities 2010” report, Willis' Chairman and Chief Executive Officer Joe Plumeri says the demand for insurance services are rising, whether it is from emerging markets or increased demand to transfer risk beyond the traditions of the property and casualty market. He cites cyber, environmental, trade credit and supply chain as just a few examples.
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