Large and small organizations, alike, have the potential to harbor correlated risks. Correlated risks are a group of risks that might occur at the same time because there is a relationship of some sort among them. The aspect at play could be:

a geography in common
a single source with multiple ties. For example, a company that has call centers, data processing and manufacturing plants in a single Southeast Asia country has the potential for correlated risk if that country is hit by a natural catastrophe, political upheaval or some other turbulence.  Another example is, if different product units of a manufacturing company use the same supplier for raw materials or OEM parts, there is the potential for correlated risk if that supplier is unable to deliver on its orders.

A correlation might also be in terms of chain reactions. One risk event may give rise to other risks, which is often true in the case of natural disasters such as earthquakes and hurricanes.
A question about correlated risks will not only elicit an answer about those risks but also provide insight as to whether risk is being discussed in depth and across organizational silos.   _{Your Comment}