Economic and geopolitical risks most impactful among C-suite

March 10, 2026, Arlington, VA and Chicago, IL— According to insights from the 19th Annual Emerging Risks Survey, economic and geopolitical risks were identified as the most impactful near-term risks in 2026. The survey, jointly published by the Casualty Actuarial Society (CAS) and the Society of Actuaries (SOA), highlights emerging risks, defined as new risks or familiar risks that become apparent under new conditions.

Key Insights:

• Among the C-suite survey participants, the specific risk chosen most often as having the greatest impact in 2026 was greater-than normal financial volatility (25%); followed by geoeconomic and globalization shifts (19%), extreme weather event (14%); and 8% each for artificial intelligence (AI) adverse outcomes and cyber events.
• 60% of C-suite participants noted technological and economic risks will have the greatest impact on their organizations three or more years in the future, with the most impactful risks being AI adverse outcomes and greater-than-normal financial volatility.
• 17% of C-suite participants selected economic risks as being most impactful both in 2026 and also three or more years in the future.
• The most frequent first-selected risk combinations by risk category were two technological risks (14%), followed by 12% each for economic and environmental risks; and economic and technological risks.

New this year, the survey provides a deeper dive on C-suite insights, with over 100 Chief Risk Officers, Chief Actuaries and other senior thought leaders participating. Among C-suite survey participants, 34% selected an economic risk as most impactful to their organization in 2026, and 26% selected geopolitical risk in 2026.

Survey participants were provided a list of 17 risks spanning five risk categories and asked to select the risks they considered most impactful individually or in combination from this list. These categories were economic, environmental, geopolitical, societal, and technological risks. The survey findings explore top near-term risks for the year, top longer-term risks (next three years), differences by employer type and trend shifts.

“This survey of key decision makers working with risks offers an insightful snapshot of their current concerns and the potential challenges these risks pose now and in the long-term,” said R. Dale Hall, FSA, MAAA, CFA, CERA, Managing Director of Research, SOA. “The survey shows a shift from geopolitical and economic concerns in 2026 toward technology-driven risks three or more years out. The report also explores the interconnectedness of risks, and the possibility of risks migrating to other areas.”

Across the full set of 350 survey respondents (C-suite respondents along with other financial services professionals with expertise in risk management), the findings highlight the importance of technology risks related to AI, its potential for adverse outcomes, and the ongoing risk of disruptive technology. Some forms of disruptive technology have been among the top three emerging risks annually since the 2023 survey.

The geopolitical landscape and its downstream impact on globalization risks and financial market volatility are ranked among the top five emerging risks by respondents to the 2026 survey.

Environmental risks, including extreme weather and long-term climate change, remain significant. However, compared to prior years, climate risks are increasingly treated as embedded, managed risks rather than newly emerging threats.

Survey Details

Sponsored by the CAS and SOA, the emerging risk survey was an online questionnaire conducted January 6-30, 2026. It included 350 participants who serve as risk management professionals, spanning insurance and financial services. Read the report for more details.