In the hectic pace of business, we often fail to note historic change. Underwriter Laboratories has provided central station security standards since 1924. The announcement of new UL regulations on October 29, 2014, will go down as UL’s first major change in central station rules for reliability and security. And, no, I am not referring to locks on the doors.
Cybersecurity poses a risk that can destroy any business and any industry. Remember the breach at Target where a password gave easy access to credit information? How about the recent hack of Sony, where trillions of megabytes of data were easily whisked away? These situations are not hypothetical. Moreover, these risks apply to every dealer. Have you considered your vulnerabilities and response to a breach? Over 60 percent of small businesses don’t survive 6 months after an attack (National Cyber Security Alliance, 2014). The reputational damage is a killer. Lacking a security plan exacerbates the problem of recovery.