Outgoing International Union of Marine Insurance (IUMI) president Richard Turner told underwriters at the organisation’s conference in Chicago that they will need to make far-reaching changes if they are to meet future challenges.

His parting warning shot came at the last IUMI conference he would host before he steps down and hands over the presidency.

Turner said marine insurers would be confronted by the fallout from war, the pandemic, economic protectionism and climate change in the years ahead.