Annual Survey Reveals Risk Managers’ Concerns
Climate Risks, Disruptive Technology and Geopolitical Instability Top Rankings
February 4, 2025, Arlington, VA and Chicago, IL—The Casualty Actuarial Society (CAS) and the Society of Actuaries (SOA) Research Institute jointly published key findings from the 18th Annual Emerging Risk Survey. The online questionnaires ask risk managers to rank current and emerging risks, and researchers have tracked the responses over the years to identify trends. In the latest survey, the top emerging risks are climate risks, disruptive technology and geopolitical instability.
The survey uses four categories to measure risks as perceived by risk managers: top current risk, the leading five emerging risks, overall emerging risk and emerging risk combinations.
Climate change dominated the top of the emerging risk lists since 2021, but in 2024, it shared the top spot with geopolitical instability (including civil wars). Furthermore, 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.
Also, survey respondents had been citing the risk of failed and failing states increasingly less often since the 2010s, and trend changed in 2023, steeply increased since. 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.
Researchers fielded the survey in November 2024, and the top emerging risks chosen by risk managers in both surveys reflect recent events. A few examples include the continuing conflicts in Ukraine and the Middle East, hurricanes Milton and Helene, the downward trend of inflation and interest rates.
Survey Details
Sponsored by the CAS and the SOA Research Institute, the 18th Annual Emerging Risk Survey is an online survey included 201 participants. Ninety-five percent of respondents were based in North America, and additional responses came from risk managers in Europe, South America, Asia, Africa, the Middle East, and the Caribbean/Bermuda. To mitigate the potential of recency bias, the organizations will conduct a mid-year flash survey to be fielded in May 2025. Read the key findings report for more details and graphs.
About the Casualty Actuarial Society
The Casualty Actuarial Society (CAS) is a leading international organization for credentialing, professional education and research. Founded in 1914, the CAS is the world’s only actuarial organization focused exclusively on property-casualty risks and serves over 10,000 members worldwide. CAS members are sought after globally for their insights and ability to apply analytics to solve insurance and risk management problems. Visit www.casact.org.
About the Society of Actuaries
With roots dating back to 1889, the Society of Actuaries (SOA) is the world’s largest actuarial professional organization with more than 33,000 actuaries as members. Through research and education, the SOA’s mission is to advance actuarial knowledge and enhance actuaries’ ability to provide expert advice and relevant solutions for financial, business and societal challenges. The SOA’s vision is for actuaries to be the leading professionals in measuring and managing risk. To learn more, visit soa.org.