The best time to avoid a data penetration is before you've been breached.
Sadly, most businesses don't make the effort until AFTER they've been hacked.
And lost their data.
Their intellectual property.
And their reputations.
In the hyper competitive world of new car sales and service, that reputation breach may be even worse than the mid-six-figure ransom you'll be forced to pay.
It seems like a bunch of scare tactics, doesn't it?But it's real. Why do you think headlines in the past several months are screaming about international and domestic cyber compromises? It's becoming easier and easier to do, because businesses are not staying on top of their own security measures.
And unless your store — or stores — has been breached, there's no real way to describe the pain, frustration and outlay of cash or bitcoin to resolve the situation.
Then, once you've been hacked — and if you don't secure your data from hackers — chances are high that you'll be held for ransom again and again.
That'll be enough to put you out of business.
Preventing cybersecurity threats and attacks is a tough road to navigate, with tight curves, steep ledges and deep potholes. Yet you don't need to navigate that road alone.
Join us at 8 a.m. Tuesday, February 22 as Colorado Springs cybersecurity expert, Todd Cronin,founder/CEO of Ryu Team provides data and insights gathered from incidents Ryu Team has responded to over the years in dealerships nationwide.
Cronin thinks like the threat. His deep experience with the U.S. Air Force, federal R&D and private sector uniquely positions him as an expert on cybersecurity threats — and how to prevent them.
Designed for dealer principals, general managers and controllers, this webinar will keep you informed about the latest cyber threats to the automotive industry — and how to prevent these disruptive attacks with efficient solutions.
Todd Croninis a professional hacker and Founder/CEO of Ryu Team. From his time in the U.S. Air Force, federal research and development and the private sector, Todd has been responsible for securing some of the nation’s most critical infrastructure from stealth aircraft and satellites to public transit and financial applications.
Along with a team of other professional hackers who think like the threat, he now leads the development of cybersecurity programs for auto dealers nationwide — ensuring owners sleep well at night knowing that their reputation and revenue are safe.
... for winning its first Pleiades Club Award. Michael Dunlap said in a post on LinkedIn, "Only 25 dealers nationwide receive this honor. Thank you to the amazing team at Schomp Subaru for their incredible work, and to Subaru of America for its tireless work!"
Help drive CADA's direction —
Join a committee
From the Legislative Advisory Council to the Denver Auto Show, Annual Convention, Member Services, Colorado Automotive Hall of Fame and Truck Dealer committees, you can make a difference in the direction CADA takes in 2022 and beyond.
We’re open to the ideas, experiences and energy you bring to the table to reimagine events and create new ones. Bring your big-picture vision, thoughts, strategies, techniques, tactics and suggestions to one or more committees that appeal to you.
The Legislative Advisory Council identifies and prioritizes legislative issues that could enhance or negatively affect dealer interests. The Legislative Advisory Council evaluates and discusses each issue, then establishes policy, legislative and regulatory recommendations to the CADA Board for approval.
CADA member dealers who are interested and willing to actively lead and participate at the Colorado state capitol — by personally discussing issues of concern with legislators — are invited to join the Council.
The Denver Auto Show Committee is comprised of dealer members and CADA staff to imagine, re-imagine and plan the largest fundraiser for the Colorado Automobile Dealers Association. The committee discusses the big-picture view of the show and its related events, including the Preview Gala, Green Car Parade and Colorado Car Convoy.
From there, the committee makes recommendations to CADA staff and the Board of Directors, as they oversee the Show from a 10,000-foot-view of the event.
The Annual Convention Committee is comprised of a fun group of member dealers, ranging from owners, principals and general managers to dealership department leaders — including Sales, Service, F&I, Parts and Used Vehicle managers — to imagine and create a CADA Annual Convention that attracts and engages dealerships’ key team leaders.
The committee determines location, dates and activities for the re-imagined, family-friendly event, as well as key speakers and entertainment that will keep dealers and staff returning for more year after year after year.
The Member Services Committee recommends products and services to the Board of Directors for its Endorsed Provider program to CADA members. Member dealers, ranging from owners and general managers, as well as department leaders are invited to join the Member Services Committee, so the products selected and endorsed are products that you yourself currently use and can recommend to others.
Once companies are selected as CADA Endorsed Providers, these companies become a valuable revenue sharing partner with CADA by return a mutually agreed-to financial commitment to the association, based on product/service sales to dealer members.
The Truck Dealer Committee brings together truck dealers from around the state to make recommendations on policy priorities unique to heavy truck and transportation sectors, including transportation funding for the state of Colorado.
For information about any Endorsed Provider's products or services, contact Marsha Temple 303.457.5123 office | 303.589.3801 mobile
Time to Review Your Personal and Business Financial Risks
In March 2020, the world changed when COVID-19 shut everything down. Since then, there have been stay-at-home orders, remote work, and schools and universities teaching over Zoom. The economy is a paradox — staffing shortages, high unemployment, supply chain problems, and business closures for some; or the best sales results in decades for others, along with a stock market that continues to grow. In the meantime, company expenses have increased to adjust to the impact of the pandemic.
The life insurance industry has also been impacted. The number of death claims has grown by double digits. But the positive is new life insurance sales are growing for ages that were slow to purchase coverage in the past. Perhaps the pandemic has shown a light on the financial risks that weren’t as apparent or were brushed off in the past. Have you considered your personal and business financial risks?
Personal Coverage - In the event of your death, a benefit to your spouse or children can help cover the loss of income, final expenses, debt, and help provide an educational benefit. If you already have personal coverage, it is important to review the death benefit amount periodically to make sure it will continue to provide desired coverage for any increasing income and higher expenses. And in a low interest environment, will a death benefit earn enough for lifetime access to the funds, or will the beneficiary run out of money too soon? Consider increasing your coverage to manage a gap in your personal financial plan. If your spouse doesn’t have an income, it is still important to purchase coverage on your spouse to cover the expense for child care, final expenses, and debts.
Business Coverage - When competition for qualified employees is fierce, life insurance can also be used to offer a more immediate award for remaining with the company by using a bonus structure that encourages key employees to stick around for the long-term. To help protect your business from the sudden loss of a key employee (including yourself) due to death, key person coverage provides the business with cash at a time when it may be needed most to help find, recruit, and train someone new; and to help replace lost profits due to the loss of the key employee and their skills and leadership.
Did a business in your community risk its future when a business owner died suddenly? It is essential to have a written business succession plan to help manage the transition to a new owner. Yet, even the best succession plan can be derailed if the money to implement a buy-sell agreement is not there when it’s needed. Life insurance proceeds are promptly available after the death of the insured owner to help cover the purchase price for the owner’s share of the business, helping to ensure that the new or remaining owners can keep the doors open.
Every industry has experienced unprecedented change over the last two years. What hasn’t changed is the need to manage the risk. Take some time to review your personal and business financial risks and consider updating your coverage.
This article is for general information and risk prevention only and should not be considered another other offer of insurance or legal, financial, tax, or other expert advice. The recommendations herein may help reduce, but are not guaranteed to eliminate, any or all losses. The information herein may be subject to, and is not a substitute for, any laws or regulations that may apply. This information is current as of its publication date and is subject to change. Some of the services referenced herein are provided by third parties wholly independent of Federated. Federated provides access to these services with the understanding that neither Federated nor its employees provide legal or other expert advice. All products and services not available in all states. Qualified counsel should be sought with questions specific to your circumstances. All rights reserved.
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