The discussions about ‘risk society’ rose in the 1980s. The risks of contemporary societies include environmental pollutions, bio-tech and relevant ethical issues, racial confrontations, the enlarging of poverty gap, etc. The risks are mainly the consequences of the modernization process, limitations of the experts system and the unpredictability of technology. Responding to the needs of industrialization and modernization, university curriculum has been increasingly specialized. However, facing the challenges posed by risk society, Taiwan's university curriculum needs another reform in order to readdress the balance between the generalist and specialist education, to enlarge the visions of the students and their social concern, risk awareness and risk management. The paper examines three liberal arts colleges established by universities and concludes that though the effects of the three colleges remained to be observed, as an innovative combination of the Western liberal education and the Chinese college tradition, Taiwan's experiment may illustrate a feasible way of preparing students for the challenges of risk society. By literature review, document analysis and comparison, the article discusses the rise and implications of Liberal Arts Colleges in Taiwan in light of the process of modernization and risk society. The article first analyzes the causes and impact of risk society, followed by a discussion of the changes of university curriculum shared by some economically advanced countries. Finally, the article turns to study three of the pioneering liberal arts colleges set by universities as a curriculum reform responding to ever-intensifying risk society.