It's not a security risk per se. But you always should guard yourself against session hijacking. The most easy way to do this is to place this code where you have your session_start() command:
session_start();
if(version_compare(‘5.1.0’, phpversion(), ‘>’)) {
session_regenerate_id(TRUE);
} else {
unlink(ini_get(‘session.save_path’).’/sess_’.session_id());
session_regenerate_id();
}
This will generate a new session ID for every page visited, effectively making a hijacked session ID useless.