The sea ice in the Arctic has shrunk significantly in the last decades. Partly as a result, the transport pattern has changed with more traffic in remote areas. This change may increase the risk of accidents. The critical factors are harsh weather, ice conditions, remoteness and vulnerability of nature. In this paper we look into the risk of accidents in Atlantic Arctic based on previous ship accidents and the changes in maritime activity. The risk has to be assessed to ensure a proper level of response in emergency situations. As accidents are rare, there are limited statistics available for Arctic marine accidents, therefore, in this study a mostly qualitative analysis and expert judgement has been the basis for the risk assessments. Implications for the emergency preparedness system of the region are discussed. The consequences of incidents depend on the incident type, scale and location.