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The insurance cycle in not dead, and the return to a hard market could come without a multibillion-dollar catastrophic event driving the turn, a broker executive said recently.

Brian Duperreault, president and chief executive officer of Marsh & McLennan Companies in New York, made the assertions during a keynote luncheon address at the 2011 D&O Symposium of the Minneapolis-based Professional Liability Underwriting Society held in New York early this month.

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