NU Online News Service, Sept. 9, 9:29 a.m. EST

As the world's societies strain to adjust to emerging new economies, the insurance industry will be called upon to play a greater role in spreading the cost of risk with governments while also participating in greater opportunities, says Martin Sullivan, deputy chairman of Willis Group.

Giving a speech in London before a group of company executives, Sullivan says that in a period of austerity, “consumers of the industrial world, many of them American, are retrenching.”

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