Risk managers identify top emerging risks in annual survey
Climate risks, disruptive technology and geopolitical instability are the top emerging risks, according to an annual survey of risk managers.
The 18th annual Emerging Risk Survey is jointly published by the Casualty Actuarial Society and the Society of Actuaries.
The online survey last November attracted 201 participants.
Ninety-five per cent of respondents were based in North America, and additional responses came from risk managers in Bermuda, the Caribbean, Europe, South America, Asia, Africa and the Middle East.
The questionnaires ask risk managers to rank current and emerging risks, and researchers have tracked the responses over the years to identify trends.
Climate change has dominated the top of the emerging risk lists since 2021, but in 2024 it shared the top spot with geopolitical instability — including civil wars.
Concerns about the impact of artificial intelligence have driven the upward trend of disruptive technology as an emerging risk.
Cybersecurity and manipulation are particular hazards chosen by survey respondents.
On the other hand, the selection of asset price collapse risk and financial volatility as current or emerging risks have reached new lows in the latest survey findings.
Survey authors David Schraub, who operates an actuarial consultancy, and financial consultant Max Rudolph said the survey “compiles trends about risks that extend longer than the time horizon used for standard industry planning cycles.
“This analysis provides helpful ways to understand how actuaries and risk managers disconnect from day-to-day operations and take a long-term view of risk and to see how these views have evolved over time.”
To mitigate the potential of recency bias, the organisations will conduct a midyear flash survey to be fielded in May.
• For the full survey results, see Related Media
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