A system detecting emerging risks in various systems and relating a detected risk to its relative impact on a system or product. A server receives and stores risk information from geographically distributed computerized data sources via a communication network. The risk information includes an identification and rating of a specific risk, and information associating the specific risk with a geographical area. Utilizing the risk information and area attributes, such as correlation factors and spreading patterns, a specific risk emerging in a first geographical area and spreading to one or more second geographical areas is detected. Emerging risks can be detected in geographical areas for which no risk information has been received, allowing to set up, maintain, and operate a risk detection system with a simplified technical infrastructure since it is not necessary to measure, transmit, and store risk indicators for all geographical areas for which emerging risks are detected.