Established in 2024, the RiskScan survey was conducted again in 2026. To produce a compelling snapshot of cross-market views, Munich Re US and the Triple-I engaged independent market researcher RTi Research, capturing the insights of over 800 individuals from five diverse market segments comprising US-based consumers, small business owners (SBOs), middle market decision-makers (MM decision-makers), P&C insurance agents/brokers, and P&C insurance carriers. 

This report provides an overview and commentary from top insurance industry experts on key topics, including insurance-related risks, natural disasters, emerging technologies, P&C insurance costs, overall market dynamics, and the role (re)insurance plays in the functioning of everyday society.

RiskScan 2026 shows that US insurance buyers and sellers are increasingly aligned on the risks reshaping the market — but significant protection gaps remain. The survey highlights a risk environment defined by interconnected threats rather than isolated events.

Across all audiences, cyber incidents, economic pressures, artificial intelligence (AI), business interruption, and natural catastrophes rank as the top concerns. Non-peak perils — such as floods, severe storms, winter weather, and wildfires — are now viewed as frequent, high-impact risks, challenging traditional assumptions about catastrophe exposure and diversification.

AI has become the most impactful emerging technology, reflecting both its rapid adoption and the growing need to manage new forms of operational, regulatory, and liability risk. At the same time, respondents increasingly recognize that rising insurance costs are driven not only by inflation and catastrophe losses, but also by legal system abuse.

RiskScan 2026 also identifies persistent gaps between risk awareness and coverage — particularly for flood and cyber insurance — underscoring the need for better education, innovation, and collaboration across the insurance ecosystem.

Collectively, the findings reinforce the critical role of insurance — not just as a financial backstop after loss, but as a critical partner in resilience, risk prevention, and long-term economic stability.

In today’s digital landscape, we are all surrounded by increasing frequency and complexity of cyber threats, from companies vulnerable to customer data breaches to smart homes that are interconnected and exposed to potential attacks.

We see cyber losses on the rise and becoming more costly for the insurance industry, which underlines the value of cyber coverage. Cyber continues to be a threat that is difficult for businesses and individuals to predict and continues to pose a significant risk to all market segments.

Fueled by insurance professionals and consumer responses, increasing frequency and severity of natural catastrophes ranked among the top three insurance risks. Although spared from hurricane landfalls, 2025 was the costliest claims year to date for non-peak perils: wildfires, flooding, and severe thunderstorms.

The risk of business interruption is a universal concern for business and insurance professionals, with various threats such as cyberattacks, natural disasters, labor strikes, and geopolitical conflicts all capable of causing substantial operational disruption. Understandably, it was not a top concern for consumers.

The interconnected nature of modern threats requires organizations to take a proactive and integrated approach to risk management, involving supply chain diversification, geopolitical intelligence, and regular continuity planning updates to ensure business resilience. 

All market segments surveyed identified these non-peak perils as their top concerns. This could be attributed to their rise in frequency and severity. According to Munich Re’s NatCatSERVICE as of January 2026, insured losses for non-peak perils reached a record $88bn for the United States in 2025.

Of the non-peak perils, flood was ranked first or second for all groups except consumers, who ranked it fourth both in 2024 and 2026. Unfortunately, the low take-up rate for flood insurance still persists, showing no significant improvement over time.

Concern about wildfires has risen across all segments since 2024, with insurance professionals exhibiting the most significant uptick. 

The majority of respondents across audiences cited economic inflation and decline as top market dynamic concerns.

Not surprisingly, the increase in frequency and severity of natural disasters stands out as the top driver influencing P&C insurance costs, along with economic inflation.

The top three overall values were identified as helping communities recover quickly after a loss, providing long-term financial stability, and encouraging risk prevention and resilience.

The insurance industry increasingly promotes resilience before losses occur. RiskScan 2026 shows growing expectations that insurers contribute not only after events, but also through risk prevention, mitigation, and resilience-building — such as encouraging safer construction, improved risk awareness, and proactive loss prevention.

Greater alignment around shared responsibility for risk reduction will be critical to preserving affordability in the increasingly complex, interconnected world.

RiskScan 2026 reinforces a clear message for the (re)insurance industry: Today’s risk environment is no longer defined by isolated threats, but by interconnected pressures that demand a more integrated and forward-looking response.

Munich Re US consistently works to identify, analyze, and provide insights related to risk. By leveraging this expertise, clients and policyholders can navigate their unique risk profiles with confidence.

No single organization can address these challenges alone. Partnerships play a critical role. By fostering informed dialogue and proactive risk management, the insurance industry, along with other key stakeholders, continues to play a vital role in supporting economic stability, helping communities recover, and preventing losses before they occur.

With a focus on prediction, prevention, and protection, Munich Re US provides stability and predictability in a complex and ever-changing world of risk.