In 2002, the then US Secretary of Defense, Donald Rumsfeld in a news briefing coined the phrases "known knowns" to describe things we know we know and "unknown unknowns", the things we don't know, we don't know.

Many insurers, underwriters, risk managers and corporations can be forgiven for feeling that they are being overloaded with too many 'unknown unknowns' - random events that have occurred or have defied convention, events like the WannaCry attacks and Brexit.

How can we explain all of this or rather what connects all these events together? The answer is what we call the future of Business Risk: Connected Risk.

So, this month's newsletter will be devoted to understanding what is Connected Risk, how it works and what are the implications for risk managers, insurers, underwriters and corporations: