exercises.
providers alongside IT vendors. This separation ensures proper focus on threat detection and response. 6. Safeguarding customer data is your responsibility Using third-party software doesn’t eliminate your liability for data breaches. You remain responsible for customer data protection regardless of where breaches occur. Courts hold businesses accountable for vendor security failures. Consider this scenario: Your payroll provider experiences a data breach. Employee social security numbers and bank account details get stolen. You face lawsuits, regulatory fines, and notification costs even though the breach occurred elsewhere. Manage third-party risks effectively: • Research vendor security practices before signing contracts. • Require cybersecurity insurance from all vendors handling your data. • Include breach notification clauses in vendor agreements. • Monitor vendor security through regular assessments and audits. Due diligence protects your business and demonstrates reasonable care to regulators and courts. 7. Incident response planning protects your bottom line Every flooring business needs a written incident response plan. This document outlines immediate steps to take after discovering a cyberattack. Quick response limits damage and speeds recovery. If you lack an incident response plan, you end up wasting precious hours figuring out what to do. Criminals use this confusion to maximize damage. Create your incident response plan: • Identify key personnel responsible for different aspects of response. • Document immediate containment steps to limit attack spread. •
• Know the data breach notification requirements in every state where you conduct business, and determine (in advance, with your legal counsel) how to ensure compliance. • Practice is essential in cybersecurity. Regular drills reveal plan weaknesses before real attacks occur. 8. Consider cyber insurance if you don’t already have it Even cyber-savvy businesses experience cyberattacks. So, you need to research how your insurance would respond to a data breach. Would it provide any reimbursement at all, or does your current insurance exclude cyber events? A growing number of businesses are buying standalone cyber coverage, because it offers more than just financial protection. Cyber insurers have a network of breach response professionals to help with the actual recovery process. Are you focusing enough on cyber safety? Think about all the ways you use technology for customer transactions, inventory management, and supplier communications. What if a cyberattack took these systems down or locked up your data so you couldn’t access it? Could your business continue to operate? The cost of prevention pales compared to business downtime and breach recovery expenses. Take action now to protect your business, customers, and reputation. Your
success depends on cyber vigilance. WFCA members can request a free cybersecurity assessment. To learn more, contact seickhoff@risk- strategies.com.
“ From ransomware to supply-chain fraud, a single cyberattack can disrupt operations and damage your business.”
Prepare communication templates for customers, suppliers, and authorities. Test your plan regularly through tabletop
•
10 Premier Flooring Retailer tise | 2026
Made with FlippingBook flipbook maker