Execs brace for volatility as AI, macro risks dominate insurers’ emerging risk radar for 2026

Meanwhile, regulation is moving in parallel. In the US, all 50 states introduced some form of AI‑related legislation during the 2025 session, and states such as California are implementing laws that treat certain “high‑risk” AI systems used in consequential decisions as regulated activities. State insurance regulators are also issuing guidance on AI use in pricing, underwriting and claims, emphasizing governance, transparency and nondiscrimination.