diff --git a/contracts/examples/crop/CropProduct.sol b/contracts/examples/crop/CropProduct.sol
index d9a6880b8..4e161a683 100644
--- a/contracts/examples/crop/CropProduct.sol
+++ b/contracts/examples/crop/CropProduct.sol
@@ -195,7 +195,6 @@ contract CropProduct is
         if (seasonEndAt < TimestampLib.current()) { revert ErrorInvalidSeasonEndAt(seasonEndAt); }
 
         // create risk, if new
-        bytes32 riskKey = keccak256(abi.encode(id));
         CropRisk memory cropRisk = CropRisk({
             seasonId: seasonId,
             locationId: locationId,
@@ -205,7 +204,7 @@ contract CropProduct is
             payoutDefined: false
         });
 
-        riskId = _createRisk(riskKey, abi.encode(cropRisk));
+        riskId = _createRisk(abi.encode(cropRisk));
         _riskId[id] = riskId;
     }
 
diff --git a/contracts/examples/fire/FireProduct.sol b/contracts/examples/fire/FireProduct.sol
index 3e7c09458..4bd1e2e44 100644
--- a/contracts/examples/fire/FireProduct.sol
+++ b/contracts/examples/fire/FireProduct.sol
@@ -248,7 +248,7 @@ contract FireProduct is
             return _riskMapping[cityName];
         }
         _cities.push(cityName);
-        risk = _createRisk(bytes32(abi.encodePacked(cityName)), "");
+        risk = _createRisk("");
         _riskMapping[cityName] = risk;
     }
 
diff --git a/contracts/examples/flight/FlightLib.sol b/contracts/examples/flight/FlightLib.sol
index 599f58891..54b27d6c4 100644
--- a/contracts/examples/flight/FlightLib.sol
+++ b/contracts/examples/flight/FlightLib.sol
@@ -243,8 +243,6 @@ library FlightLib {
 
 
     function getFlightRisk(
-        InstanceReader reader,
-        NftId productNftId, 
         Str flightData,
         Timestamp departureTime, 
         string memory departureTimeLocal,
@@ -254,28 +252,20 @@ library FlightLib {
         public
         view
         returns (
-            RiskId riskId,
-            bool exists,
             FlightProduct.FlightRisk memory flightRisk
         )
     {
-        riskId = getRiskId(productNftId, flightData);
-        (exists, flightRisk) = getFlightRisk(reader, productNftId, riskId, false);
-
-        // create new risk if not existing
-        if (!exists) {
-            flightRisk = FlightProduct.FlightRisk({
-                flightData: flightData,
-                departureTime: departureTime,
-                departureTimeLocal: departureTimeLocal,
-                arrivalTime: arrivalTime,
-                arrivalTimeLocal: arrivalTimeLocal,
-                sumOfSumInsuredAmounts: AmountLib.toAmount(0),
-                status: bytes1(0),
-                delayMinutes: 0,
-                payoutOption: uint8(0),
-                statusUpdatedAt: TimestampLib.zero()});
-        }
+        flightRisk = FlightProduct.FlightRisk({
+            flightData: flightData,
+            departureTime: departureTime,
+            departureTimeLocal: departureTimeLocal,
+            arrivalTime: arrivalTime,
+            arrivalTimeLocal: arrivalTimeLocal,
+            sumOfSumInsuredAmounts: AmountLib.toAmount(0),
+            status: bytes1(0),
+            delayMinutes: 0,
+            payoutOption: uint8(0),
+            statusUpdatedAt: TimestampLib.zero()});
     }
 
 
@@ -306,20 +296,6 @@ library FlightLib {
         }
     }
 
-
-    function getRiskId(
-        NftId productNftId,
-        Str flightData
-    )
-        public
-        view 
-        returns (RiskId riskId)
-    {
-        bytes32 riskKey = getRiskKey(flightData);
-        riskId = getRiskId(productNftId, riskKey);
-    }
-
-
     function getRiskKey(
         Str flightData
     )
@@ -330,8 +306,4 @@ library FlightLib {
         return keccak256(abi.encode(flightData));
     }
 
-
-    function getRiskId(NftId productNftId, bytes32 riskKey) internal view returns (RiskId riskId) {
-        return RiskIdLib.toRiskId(productNftId, riskKey);
-    }
 }
\ No newline at end of file
diff --git a/contracts/examples/flight/FlightProduct.sol b/contracts/examples/flight/FlightProduct.sol
index aed5af67a..6f9e1704b 100644
--- a/contracts/examples/flight/FlightProduct.sol
+++ b/contracts/examples/flight/FlightProduct.sol
@@ -67,6 +67,7 @@ contract FlightProduct is
     bool internal _testMode;
 
     mapping(RiskId riskId => RequestId requestId) internal _requests;
+    mapping(bytes32 encodedRisk => RiskId) internal _risks;
 
     // GIF V3 specifics
     NftId internal _defaultBundleNftId;
@@ -507,20 +508,20 @@ contract FlightProduct is
         returns (RiskId riskId)
     {
         bool exists;
-        FlightRisk memory flightRisk;
-        (riskId, exists, flightRisk) = FlightLib.getFlightRisk(
-            _getInstanceReader(), 
-            getNftId(), 
+        FlightRisk memory flightRisk = FlightLib.getFlightRisk(
             flightData, 
             departureTime, 
             departureTimeLocal,
             arrivalTime,
             arrivalTimeLocal);
 
+        bytes32 riskKey = FlightLib.getRiskKey(flightData);
+        exists = _risks[riskKey].gtz();
+
         // create risk, if new
         if (!exists) {
-            bytes32 riskKey = FlightLib.getRiskKey(flightData);
-            _createRisk(riskKey, abi.encode(flightRisk));
+            riskId = _createRisk(abi.encode(flightRisk));
+            _risks[riskKey] = riskId;
         }
 
         FlightLib.checkClusterRisk(
diff --git a/contracts/examples/unpermissioned/SimpleProduct.sol b/contracts/examples/unpermissioned/SimpleProduct.sol
index cf62e20cd..61bd04b05 100644
--- a/contracts/examples/unpermissioned/SimpleProduct.sol
+++ b/contracts/examples/unpermissioned/SimpleProduct.sol
@@ -81,13 +81,9 @@ contract SimpleProduct is
 
 
     function createRisk(
-        string memory id,
         bytes memory data
     ) public returns (RiskId) {
-        return _createRisk(
-            bytes32(abi.encodePacked(id)),
-            data
-        );
+        return _createRisk(data);
     }
 
     function updateRisk(
diff --git a/contracts/instance/ProductStore.sol b/contracts/instance/ProductStore.sol
index 4cbe92f63..29b8e11c3 100644
--- a/contracts/instance/ProductStore.sol
+++ b/contracts/instance/ProductStore.sol
@@ -113,7 +113,8 @@ contract ProductStore is
     }
 
     //--- Risk --------------------------------------------------------------//
-    function createRisk(RiskId riskId, IRisk.RiskInfo memory info) external restricted() {
+    function createRisk(IRisk.RiskInfo memory info) external restricted() returns (RiskId riskId) {
+        riskId = _createNextRiskId(info.productNftId);
         Key32 key = riskId.toKey32();
         _createMetadata(key);
         _risks[key] = info;
diff --git a/contracts/instance/base/ObjectCounter.sol b/contracts/instance/base/ObjectCounter.sol
index 84a096c1c..ece3f65ab 100644
--- a/contracts/instance/base/ObjectCounter.sol
+++ b/contracts/instance/base/ObjectCounter.sol
@@ -1,20 +1,22 @@
 // SPDX-License-Identifier: Apache-2.0
 pragma solidity ^0.8.20;
 
-import {Blocknumber, BlocknumberLib} from "../../type/Blocknumber.sol";
 import {NftId} from "../../type/NftId.sol";
-import {Amount} from "../../type/Amount.sol";
 import {RequestId, RequestIdLib} from "../../type/RequestId.sol";
+import {RiskId, RiskIdLib} from "../../type/RiskId.sol";
 
 contract ObjectCounter {
 
-    // TODO refactor risk id
-    // mapping(NftId productNftId => uint64 risks) private _riskCounter;
-
+    mapping(NftId productNftId => uint64 risks) private _riskCounter;
     uint256 private _requestCounter = 0;
 
     function _createNextRequestId() internal returns (RequestId requestId) {
         _requestCounter++;
         requestId = RequestIdLib.toRequestId(_requestCounter);
     }
+
+    function _createNextRiskId(NftId productNftId) internal returns (RiskId riskId) {
+        _riskCounter[productNftId]++;
+        riskId = RiskIdLib.toRiskId(_riskCounter[productNftId]);
+    }
 }
diff --git a/contracts/product/IRiskService.sol b/contracts/product/IRiskService.sol
index a7cb852e2..b1800da80 100644
--- a/contracts/product/IRiskService.sol
+++ b/contracts/product/IRiskService.sol
@@ -23,7 +23,6 @@ interface IRiskService is IService {
     /// The key of the risk derived from the risk id in comination with the product NftId. 
     /// Risk data is stored in the instance store. 
     function createRisk(
-        bytes32 id,
         bytes memory data
     ) external returns (RiskId riskId);
 
diff --git a/contracts/product/Product.sol b/contracts/product/Product.sol
index 4a7382e07..74a86ab84 100644
--- a/contracts/product/Product.sol
+++ b/contracts/product/Product.sol
@@ -181,17 +181,13 @@ abstract contract Product is
 
 
     function _createRisk(
-        bytes32 id,
         bytes memory data
     )
         internal
         virtual
         returns (RiskId riskId)
     {
-        return _getProductStorage()._riskService.createRisk(
-            id,
-            data
-        );
+        return _getProductStorage()._riskService.createRisk(data);
     }
 
     function _updateRisk(
diff --git a/contracts/product/RiskService.sol b/contracts/product/RiskService.sol
index a9b83e4f5..80e8655c6 100644
--- a/contracts/product/RiskService.sol
+++ b/contracts/product/RiskService.sol
@@ -40,7 +40,6 @@ contract RiskService is
 
     /// @inheritdoc IRiskService
     function createRisk(
-        bytes32 id,
         bytes memory data
     )
         external 
@@ -52,16 +51,12 @@ contract RiskService is
         (NftId productNftId, IInstance instance) = _getAndVerifyActiveComponent(PRODUCT());
 
         // effects
-        riskId = RiskIdLib.toRiskId(productNftId, id);
         IRisk.RiskInfo memory riskInfo = IRisk.RiskInfo({
             productNftId: productNftId, 
             createdAt: TimestampLib.current(),
             data: data});
 
-        instance.getProductStore().createRisk(
-            riskId,
-            riskInfo
-        );
+        riskId = instance.getProductStore().createRisk(riskInfo);
 
         // add risk to RiskSet
         RiskSet riskSet = instance.getRiskSet();
diff --git a/contracts/type/RiskId.sol b/contracts/type/RiskId.sol
index d06dbaad5..8ff08b096 100644
--- a/contracts/type/RiskId.sol
+++ b/contracts/type/RiskId.sol
@@ -2,10 +2,9 @@
 pragma solidity ^0.8.20;
 
 import {Key32, KeyId, Key32Lib} from "./Key32.sol";
-import {NftId} from "./NftId.sol";
 import {RISK} from "./ObjectType.sol";
 
-type RiskId is bytes8;
+type RiskId is uint64;
 
 // type bindings
 using {
@@ -33,7 +32,7 @@ function neRiskId(RiskId a, RiskId b) pure returns (bool isDifferent) {
 
 library RiskIdLib {
     function zero() public pure returns (RiskId) {
-        return RiskId.wrap(bytes8(0));
+        return RiskId.wrap(uint64(0));
     }
 
     // @dev Converts a risk id into a uint256.
@@ -42,8 +41,8 @@ library RiskIdLib {
     }
 
     // @dev Converts a risk id string with a product NftId into a risk id.
-    function toRiskId(NftId productNftId, bytes32 risk) public pure returns (RiskId) {
-        return RiskId.wrap(bytes8(keccak256(abi.encode(productNftId, risk))));
+    function toRiskId(uint256 id) public pure returns (RiskId) {
+        return RiskId.wrap(uint64(id));
     }
 
     /// @dev Returns the key32 value for the specified risk id.
@@ -53,12 +52,13 @@ library RiskIdLib {
 
     /// @dev Returns the key id value for the specified nft id
     function toKeyId(RiskId id) public pure returns (KeyId keyId) {
-        return KeyId.wrap(bytes31(RiskId.unwrap(id)));
+        return KeyId.wrap(bytes31(uint248(RiskId.unwrap(id))));
     }
 
     function toRiskId(KeyId keyId) public pure returns (RiskId riskId) {
-        riskId = RiskId.wrap(bytes8(KeyId.unwrap(keyId)));
-        assert(toInt(riskId) < 2**64);
+        uint248 keyIdInt = uint248(bytes31(KeyId.unwrap(keyId)));
+        assert(keyIdInt < type(uint64).max);
+        return RiskId.wrap(uint64(keyIdInt));
     }
 
     function eq(RiskId a, RiskId b) public pure returns (bool isSame) {