ALLSTATE CORP
For the period ended Dec 31, 2025. Filed Feb 20, 2026.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 20, 2026
ALL$254.81-4.5%Stored close · as of Nov 6, 2026
What changed in Risk Factors?
Read the current filingPrevious report: 10-K
Period ended 2024-12-31; filed 2025-02-24.
0000899051-25-000015
Item 1A. Risk FactorsCurrent report: 10-K
Period ended 2025-12-31; filed 2026-02-20.
0000899051-26-000031
Item 1A. Risk FactorsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 221 previous paragraphs and 220 current paragraphs.
138 unchanged; 65 reworded; 11 added; 9 removed; 9 previous and 6 current paragraphs rearranged.
Tables are not compared: 1 previous and 1 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (11)
Current report
Regulatory restrictions or potential delays in the regulatory approval process for new products and features or the use of advanced technologies, non-traditional data sources, or large language models may impact our ability to innovate and enhance the competitiveness of our product offerings in the marketplace.
Current report
We also sell and service NFIP flood policies as an agent of FEMA. The Company is fully indemnified for claims and claim expenses and does not retain any ultimate risk for the indemnified business. Congressional authorization and funding for the NFIP is subject to freezes, including during a government shutdown. Delays in the payment of claims and claim expenses due to authorization or funding freezes, or changes to the administration of the NFIP by the federal government, could result in our customers not receiving payment for qualifying claims, impact the ability to service customer policies or delay the receipt of our fees for services from the NFIP.
Current report
Our competitive position depends on our ability to successfully deploy advanced technologies
Current report
Enterprise resilience is critical to the ability to restore business operations following a significant operational event
Current report
•Hybrid work models, the design and location of physical workspaces and expectations for employee collaboration
Current report
•Ability to develop employees and create new roles that align with our automation priorities and deliver greater levels of customer value
Current report
Regulatory and federal agency reforms, including potential changes in the role of FEMA in coordinating disaster response, lapses in the authorization or changes in administration of the NFIP and potential discontinuation or disruption to the National Oceanic and Atmospheric Administration’s or the National Center for Atmospheric Research’s weather forecasting and modeling may impact the insurance industry and increase costs. In addition, state laws, enforced by a variety of regulators, on issues such as privacy and cybersecurity may also increase expenses and require additional compliance activities.
Current report
•Violations of the Company’s Global Code of Business Conduct, including public-facing statements by employees that violate our policies
Removed paragraphs (9)
Previous report
Many voluntary benefits contracts are renewed annually and consumer protection plan contracts are generally multi-year, but renewals occur on a rolling basis. There is a risk that employers and retailers may be able to obtain more favorable terms from competitors than they could by renewing coverage with us. These competitive pressures may adversely affect the renewal of these contracts, as well as our ability to sell products.
Previous report
Our ability to successfully deploy new technologies may adversely impact our business
Previous report
able to respond effectively or in a timely manner to these changes, including developing and deploying customer-facing technology to address these changing preferences and maintaining competitive technology, which could have an adverse effect on the results of operations and financial condition.
Previous report
•Physical workspaces and return to office requirements
Previous report
The failure of our or third-party vendors’ business continuity plans to restore operations in a timely manner could result in business disruption and a financial impact
Previous report
The failure to identify, measure and manage risk effectively, or the failure to restore business operations after a cybersecurity event, could have a material impact on our financial condition or results of operations
Previous report
The federal government has enacted and continues to propose comprehensive regulatory reforms for financial services entities. As part of a larger effort to strengthen the regulation of the financial services market, certain reforms are applicable to the insurance industry. A growing number of state laws, enforced by a variety of regulators, on issues such as privacy and cybersecurity may also increase expenses and require additional compliance activities.
Reworded paragraphs (65)
Previous wording
coverage or an unexpected increase in the number, size or types of claims, regulatory requirements, changes in driving patterns, delays in reporting of claims and economic conditions, the imposition and impact of tariffs, supply chain disruptions and labor shortages
Current wording
•External factors such as inflation, court decisions, changes in law or litigation imposing unintended coverage or an unexpected increase in the number, size or types of claims, regulatory requirements, changes in driving patterns, delays in reporting of claims and economic conditions, the imposition and impact of tariffs, supply chain disruptions and labor shortages
Previous wording
Unexpected increases in the frequency or severity of property and casualty claims may adversely affect our results of operations and financial condition
Current wording
Increases in the frequency or severity of property and casualty claims may adversely affect our results of operations and financial condition
Previous wording
A significant increase in claim frequency could adversely affect the results of operations and financial condition. Changes in mix of business, miles driven, weather patterns, driving behaviors or other factors can lead to changes in claim frequency. We may experience volatility in claim frequency, and short-term
Current wording
A significant increase in claim frequency could adversely affect the results of operations and financial condition. Changes in mix of business, miles driven, weather patterns, driving behaviors, technology or
Previous wording
The Allstate Corporation 21 trends may not be predictive of future losses over the longer term.
Current wording
The Allstate Corporation 21 other factors can lead to changes in claim frequency. We may experience volatility in claim frequency, and short-term trends may not be predictive of future losses over the longer term.
Previous wording
Increases in claim severity can arise from numerous causes that are inherently difficult to predict. The following factors have and may continue to impact claim severity for auto bodily injury, auto physical damage (including collision and property damage) and homeowners coverages:
Current wording
The following factors have and may continue to impact claim severity for auto bodily injury, auto physical damage (including collision and property damage) and homeowners coverages:
Previous wording
•Vehicle physical damage — inflation, supply chain disruptions, labor shortages and the imposition of tariffs impacting used vehicle and parts prices, labor rates, length of claim resolution, delays in the receipt of third-party carrier claims, and a higher mix of total losses
Current wording
•Vehicle physical damage — inflation, supply chain disruptions, labor shortages, labor rates, tariffs impacting vehicle and parts prices, increased repair costs for components that have embedded advanced driver assistance systems such as cameras and sensors, length of claim resolution, delays in the receipt of third-party carrier claims, and a higher mix of total losses
Previous wording
•Homeowners — inflation in the construction industry, building materials and home furnishings, changes in the mix of loss type, changes in building codes and other economic and environmental factors, including short-term supply imbalances for services, supplies in areas affected by catastrophes and the imposition of tariffs
Current wording
•Homeowners — inflation in the construction industry, building materials and home furnishings, changes in the mix of loss type, changes in building codes and other economic and environmental factors, including short-term supply imbalances for services, supplies in areas affected by catastrophes, labor shortages, labor rates and tariffs
Previous wording
The total number of policyholders affected by the event, the severity of the event and the coverage provided contribute to catastrophe and severe weather losses. Increases in the insured values of covered property, geographic concentration and the number of policyholders exposed to certain events
Current wording
The total number of policyholders affected by the event, the severity of the event and the coverage provided contribute to catastrophe and severe weather losses. Increases in the insured values of
Previous wording
could increase the severity of claims from catastrophic and severe weather events.
Current wording
covered property, geographic concentration and the number of policyholders exposed to certain events could increase the severity of claims from catastrophic and severe weather events. Where appropriate and supportable, the Company pursues subrogation of its losses resulting from catastrophes and severe weather events. These efforts may be impacted by external factors that vary by jurisdiction, including developments in the law that may restrict subrogation recoveries, including such claims against utility companies.
Previous wording
The personal property-liability market is highly competitive with carriers competing through underwriting, advertising, price, customer service, innovation and distribution. Changes in regulatory standards regarding underwriting and rates could also affect the ability to predict future losses and could impact profitability. Competitors can alter underwriting standards, lower prices, have more sophisticated pricing models and increase advertising, which could result in lower growth, profitability or decrease our competitive position. A decline in the growth or profitability of the property and casualty businesses could have a material effect on the results of operations and financial condition.
Current wording
The personal property-liability market is highly competitive with carriers competing through underwriting, advertising, price, customer service, innovation and distribution. Changes in regulatory standards regarding underwriting and rates could also affect the ability to predict future losses and could impact profitability. Competitors may alter underwriting standards, lower prices, have more sophisticated pricing models, introduce new products and features and increase advertising, which could result in lower growth and retention and decrease our competitive position. A decline in the growth or relative profitability of the property and casualty businesses could have a material effect on the results of operations and financial condition.
Previous wording
A regulatory environment that requires rate increases to be approved, can dictate underwriting practices and mandate participation in loss sharing arrangements, may adversely affect results of operations and financial condition
Current wording
A regulatory environment that requires rates and products to be approved, can dictate underwriting practices and mandate participation in loss sharing arrangements, may increase the time to market of rate increases, new products or use of advanced technologies and adversely affect results of operations and financial condition
Previous wording
Regulatory approval of rate increases, especially during inflationary periods, may restrict rate changes that may be required to achieve targeted levels of profitability and returns on equity. If we are unsuccessful, the results of operations could be negatively impacted. Certain states may enact regulatory reforms regarding insurance rating that may make it more difficult to obtain rates that appropriately reflect the risk.
Current wording
Regulatory approval of rates, especially during inflationary periods, may restrict rate changes that may be required to achieve targeted levels of profitability and returns on equity. If we are unsuccessful, the results of operations could be negatively impacted. Certain states impose or are contemplating regulatory limitations on the amount of profit that insurance companies may earn. If our returns exceed regulatory thresholds, we may be required to issue premium credits, refunds, or implement retroactive rate adjustments to comply with applicable law. Additionally, future regulatory reforms regarding insurance rating, modifications to profit caps, or enforcement practices may make it more difficult to utilize rates that appropriately reflect the risk.
Previous wording
Alternatively, as the facilities recognize a financial deficit, they could have the ability to assess participating insurers, adversely affecting the results of operations and financial condition. Laws and regulations of many states also limit an insurer’s ability to withdraw from one or more lines of insurance, except pursuant to a plan that is approved by the state
Current wording
Alternatively, as the facilities recognize a financial deficit, they could have the ability to assess participating insurers, adversely affecting the results of operations and financial condition. Laws and regulations of many states also limit an insurer’s ability to withdraw from one or more lines of insurance, except pursuant to a plan that is approved by the state insurance department. Certain states require an insurer to participate in guaranty funds for impaired or insolvent insurance companies. These funds periodically assess losses against all insurance companies doing business in the state. The results of operations and financial condition could be adversely affected by any of these factors.
Previous wording
Our investment portfolios are subject to market risk and declines in credit quality which may adversely affect or create volatility in investment income and cause realized and unrealized losses
Current wording
Our investment portfolios are subject to market risk, including interest rate risk and equity price risk, and declines in credit quality which may adversely affect or create volatility in investment income and cause realized and unrealized losses
Previous wording
We continually evaluate investment management strategies since we are subject to risk of loss due to adverse changes in interest rates, credit spreads, equity prices, real estate values, currency exchange rates and liquidity. Adverse changes have and may continue to occur due to changes in monetary and fiscal policy, inflation, geopolitical events and the economic climate, liquidity of a market or market segment, investor return expectations or risk tolerance, insolvency or financial distress of key market makers or participants, instability of the banking sector, or changes in market perceptions of credit worthiness.
Current wording
We continually evaluate investment management strategies since we are subject to risk of loss due to adverse changes in interest rates, equity prices, credit spreads, real estate values, currency exchange rates and liquidity. Adverse changes have and may continue to occur due to changes in monetary and fiscal policy, inflation, unemployment, economic growth, geopolitical events and the economic climate, liquidity of a market or market segment, investor return expectations or risk tolerance, insolvency or financial distress of key market makers or participants, instability of the banking sector, or changes in market perceptions of credit worthiness.
Previous wording
•Increases in market interest rates, credit spreads or a decrease in liquidity could have an adverse effect on the value of fixed income securities that form a substantial majority of our investment portfolios
Current wording
•Increases in market interest rates, credit spreads or a decrease in liquidity could have an adverse effect on the value of fixed income securities
Previous wording
•Concentration in any particular issuer, industry, collateral type, group of related industries, geographic sector or risk type
Current wording
•Concentration in any particular issuer, industry, asset type, collateral type, group of related industries, geographic sector or risk type
Previous wording
The approaches we use to actively manage exposure to market risk, including rebalancing existing asset or liability portfolios, changing the type of investments purchased in the future, and use of derivative instruments to modify the market risk
Current wording
The approaches we use to actively manage exposure to market risk, including rebalancing existing asset or liability portfolios, changing the type of investments purchased in the future and use of derivative instruments to modify the market risk characteristics of existing assets and liabilities or assets expected to be purchased may not perform as intended or expected, resulting in higher than expected realized and unrealized losses.
Previous wording
The amount and timing of net investment income, capital contributions and distributions from performance-based investments, which primarily include limited partnership interests that are recorded on a lag, can fluctuate significantly due to the underlying investments’ performance or changes in market or economic conditions. Additionally, these investments are less liquid than similar, publicly traded investments and a decline in market liquidity could impact our ability to sell them at their current carrying values.
Current wording
The amount and timing of net investment income, capital contributions and distributions from performance-based investments, which primarily include limited partnership interests that are recorded on a lag, can fluctuate significantly due to the underlying investments’ performance or changes in market or economic conditions. Additionally, these investments are less liquid than publicly traded investments and although secondary markets exist, they are limited and may require sales at significant discounts to carrying value based on market conditions.
Previous wording
The valuation of the portfolio includes subjective risk factors and the value of assets may differ from the actual amount received upon the sale of an asset. The degree of judgment required in determining fair values increases when:
Current wording
The valuation of the portfolio includes subjective risk factors and the value of assets may differ from the actual amount received upon the sale of an asset. The degree of judgment required in determining fair values
Previous wording
Participation in state-based industry pools, facilities and associations may have a material, adverse effect on the results of operations and financial condition. Our largest exposure is associated with the Michigan Catastrophic Claim Association (“MCCA”), a state-mandated indemnification mechanism for qualified Personal Injury Protection losses that exceed a specified level. To the extent the MCCA’s current and future assessments are insufficient to reimburse its ultimate obligation on existing claims to member companies, our ability to obtain the 100% indemnification of ultimate losses could be impaired. We also participate in the Federal Government National Flood Insurance Program.
Current wording
Participation in state-based industry pools, facilities and associations may have a material, adverse effect on the results of operations and financial condition. Our largest exposure is associated with the Michigan Catastrophic Claim Association (“MCCA”), a state-mandated indemnification mechanism for qualified Personal Injury Protection losses that exceed a specified level. To the extent the MCCA’s current and future assessments are insufficient to reimburse its ultimate obligation on existing claims to member companies, our ability to obtain the 100% indemnification for ultimate losses could be impaired.
Previous wording
Regulatory requirements affect the amount of capital to be maintained by our subsidiary insurance companies. Changes to requirements or regulatory interpretations may result in additional capital held in our insurance companies and could require us to increase prices, reduce sales of certain products, or accept a return on equity below original levels assumed in pricing.
Current wording
capital to be maintained by our subsidiary insurance companies. Changes to requirements or regulatory interpretations may result in additional capital held in our insurance companies and could require us to increase prices, reduce sales of certain products, or accept a return on equity below original levels assumed in pricing.
Previous wording
Markets in which we operate are highly competitive, and we must continually allocate resources to refine and improve products and services to maintain our reputation, enhance brand perception, and remain competitive. Negative publicity or other negative events could harm our reputation and brand perception, adversely impacting customer, employee and other relationships. If we are unsuccessful in generating new business, retaining customers or renewing contracts, or if marketing efforts and investments in brand enhancements are unsuccessful, our ability to maintain or increase premiums written or the ability to sell products could be adversely impacted.
Current wording
Markets in which we operate are highly competitive, and we must continually refine and improve products and services to maintain our reputation, enhance brand perception, and remain competitive. Negative publicity or other negative events could harm our reputation and brand perception, adversely impacting customer, employee and other relationships. If we are unsuccessful in generating new business, retaining customers or renewing contracts, or if marketing efforts and investments in brand enhancements are unsuccessful, our ability to maintain or increase premiums written or the ability to sell products could be adversely impacted.
Previous wording
Our ability to adequately and effectively price products is affected by the evolving nature of consumer needs and preferences, market and regulatory dynamics, broader use of telematics-based rate segmentation and potential change in consumer demand.
Current wording
Our ability to adequately and effectively price and personalize products is affected by the evolving nature of consumer needs and preferences, market and regulatory dynamics, broader use of telematics-based rate segmentation and potential change in consumer demand.
Previous wording
24 www.allstate.com and allowing consumers to interact with us how they choose. Some competitors may offer a broader array of products than we do, or a more favorable customer experience. The business could be impacted by our ability to attract, serve and retain customers through distribution channels that they prefer.
Current wording
Growth and retention may be impacted if customer preferences change and we are unable to effectively adapt our business model, technology and processes, including maintaining competitive products and allowing consumers to interact with us how they choose. Some competitors may offer a broader or more personalized array of products than we do, or a more favorable customer experience. The business could be impacted by our ability to attract, serve and retain customers through distribution channels that they prefer.
Previous wording
Our business may also be adversely impacted by new or changing technologies
Current wording
Our business may also be adversely impacted by new or changing technologies and new business models affecting the auto insurance industry
Previous wording
Technological changes, such as autonomous or partially autonomous vehicles or technologies that facilitate ride, car or home sharing could disrupt the demand for products from current customers, create coverage issues, impact the frequency or severity of losses, or reduce the size of the automobile insurance market causing our auto insurance business to decline. Since auto insurance constitutes a significant portion of the overall business, we may be more sensitive than other insurers and more adversely affected by trends that could decrease auto insurance rates or reduce demand for auto insurance over time.
Current wording
Increasing adoption of newer technologies such as advanced driver assistance systems and autonomous vehicles or changes in business models that increase ride or car sharing could disrupt the demand for products, create coverage issues, impact the frequency or severity of losses, or reduce the size of the automobile insurance market causing our auto insurance business to decline. Since auto insurance constitutes a significant portion of the overall business, we may be more sensitive than other insurers and more adversely affected by trends that could decrease auto insurance rates or reduce demand for auto insurance over time.
Previous wording
Technological advancements and innovation are occurring at a rapid pace that may continue to accelerate. Nontraditional competitors could enter the insurance market and further accelerate these trends. Our competitive position could be impacted if we are unable to deploy, in a cost effective and competitive and minimally disruptive manner, technology such as artificial intelligence, large language models, machine learning and predictive analytics that collects and analyzes data to inform our decisions, or if our competitors collect and use data which we do not have the ability to access or use.
Current wording
Technological advancements and innovation are occurring at a rapid pace that may continue to accelerate. Nontraditional competitors could enter the insurance market and further accelerate these trends. Our competitive position could be impacted if we are unable to deploy advanced technologies in a cost effective and competitive manner or if our competitors more rapidly or successfully deploy advanced technologies in their businesses.
Previous wording
Innovations must be implemented in compliance with applicable insurance regulations and in a responsible and compliant manner. The maturity and effectiveness of currently available generative artificial intelligence technology is uncertain. The use of artificial intelligence may present ethical and reputational risks. Regulatory restrictions on the use of artificial intelligence may impose additional compliance or reporting obligations and may materially adversely affect our operations or ability to write business profitably in one or more jurisdictions.
Current wording
Innovations must be implemented in an ethical and responsible manner, in compliance with applicable laws and regulations. The maturity and effectiveness of forms of artificial intelligence technology are rapidly evolving. Regulatory restrictions on the use or development of artificial intelligence may impose additional compliance or reporting obligations, which
Previous wording
Technological changes may require extensive modifications to our systems and processes and extensive coordination with and reliance on the systems and operations of third parties. If we are unable to adapt to or bring such advancements and innovations to market, the quality of our products, our relationships with customers and agents, competitive position and business prospects may be materially affected. Changes in technology related to collection and application of data regarding customers could expose us to regulatory or legal actions and may have a material adverse effect on our business, reputation, results of operations and financial condition.
Current wording
Technological changes may require extensive modifications to our systems and processes and extensive coordination with and reliance on the systems, technology and operations of third parties. If we are unable to adapt to or bring such advancements and innovations to market, the quality and marketability of our products, our relationships with customers and agents, competitive position and business prospects may be materially affected. Changes in technology related to collection and application of data regarding customers could expose us to regulatory or legal actions and may have a material adverse effect on our business, reputation, results of operations and financial condition.
Previous wording
Changes in technology and customer preferences may impact the ways in which we interact, do business with customers and design products. We may not be
Current wording
Changes in technology and customer preferences may impact the ways in which we invest in marketing and customer acquisition, interact and do business with customers and design products. We may not be able to leverage new technologies effectively or in a timely manner, which could have an adverse effect on the results of operations and financial condition.
Previous wording
Executing our strategy to advance and innovate technology has and may continue to impact our workforce as we require new and different skills, particularly those in areas such as digital, data and analytics and technology to achieve our strategic goals. Advancements in technology and changes in consumer preferences may also impact our workforce needs in the future.
Current wording
Executing our strategy to advance and innovate technology, including leveraging artificial intelligence, has and may continue to impact our workforce as we require new and different skills to achieve our strategic goals. Advancements in technology, business process redesign and changes in consumer preferences may also impact our workforce needs in the future.
Previous wording
Catastrophe risk management actions have led us to reduce the size of the homeowners business in certain states, including customers with auto and other personal lines products, and may negatively impact future sales. Adjustments to the business structure, size and underwriting practices in markets with significant severe weather and catastrophe risk exposure could adversely impact premium growth rates and retention.
Current wording
Catastrophe risk management actions have led us to reduce the size of the homeowners business in certain states, including customers with auto and other personal lines products, and may negatively impact future sales. Adjustments to the business structure,
Previous wording
The Allstate Corporation is a holding company with no significant operations. Its principal assets are the stock of its subsidiaries and its directly held cash and investment portfolios. Its liabilities include debt and pension and other postretirement benefit obligations related to employees. State insurance regulatory authorities limit the payment of dividends by insurance subsidiaries, as described in Note 18 of the consolidated financial statements. The limitations are generally based on statutory income and surplus. In addition, competitive pressures generally require the
Current wording
The Allstate Corporation is a holding company with no significant operations. Its principal assets are the stock of its subsidiaries and its directly held cash and investment portfolios. Its liabilities include debt and pension and other postretirement benefit obligations related to employees. State insurance regulatory authorities limit the payment of dividends by insurance subsidiaries, as described in Note 16 of the consolidated financial statements. The limitations are generally based on statutory income and surplus. In addition, competitive pressures generally require the subsidiaries to maintain insurance financial strength ratings. These restrictions and other regulatory requirements may affect the ability of subsidiaries to make dividend payments. Limits on the ability of the subsidiaries to pay dividends could adversely affect holding company liquidity, including the ability to pay dividends to shareholders, service debt or complete share repurchase programs as planned.
Previous wording
Market conditions impact the availability and cost of the reinsurance we purchase. Reinsurance may not remain continuously available to us to the same extent and on the same terms and rates as were historically available or is currently available. The ability to economically justify reinsurance to reduce catastrophe risk in designated areas may depend on our ability to adjust premium rates to fully or partially recover cost. If we cannot maintain an acceptable level of reinsurance or purchase new reinsurance protection in amounts we consider sufficient at acceptable prices, we would have to either accept an increase in our catastrophe exposure, reduce insurance exposure or seek other alternatives.
Current wording
risk in designated areas may depend on our ability to adjust premium rates to fully or partially recover cost. If we cannot maintain an acceptable level of reinsurance or purchase new reinsurance protection in amounts we consider sufficient at acceptable prices, we would have to either accept an increase in our catastrophe exposure, reduce insurance exposure or seek other alternatives.
Previous wording
The ability to achieve certain anticipated financial benefits from the acquisition of businesses depends in part on our ability to successfully grow and integrate the businesses consistent with anticipated acquisition economics. Financial results could be adversely affected by unanticipated performance or compliance issues, unforeseen liabilities, transaction-related charges, diversion of management time and resources to acquisition integration challenges or growth strategies, loss of key employees, challenges in integrating information technology systems and failure of cybersecurity controls, amortization of expenses related to intangibles, charges for impairment of long-term assets or goodwill and indemnifications.
Current wording
The ability to achieve certain anticipated financial benefits from the acquisition of businesses depends in part on our ability to successfully grow and integrate the businesses consistent with anticipated acquisition economics. Financial results could be adversely affected by unanticipated performance or compliance issues, unforeseen liabilities, transaction-related charges, diversion of management time and resources to acquisition integration challenges or growth strategies, loss of key employees, challenges in integrating information technology systems and failure of cybersecurity controls, amortization of expenses related to intangibles, charges for impairment of long-lived assets or goodwill and indemnifications.
Previous wording
We continue to identify ways to improve operating efficiency and reduce cost, which may result in additional outsourcing arrangements or increased reliance on third-party technologies in the future. We may not be successful transitioning work to a vendor or a key vendor could become unable to continue to provide products or services, fail to meet service level standards, fail to protect our confidential, proprietary, and other information or deploy new technologies, such as artificial intelligence, in a manner that has an adverse impact on our operations. Additionally, if plans to restore and recover critical systems, data and
Current wording
additional outsourcing arrangements or increased reliance on third-party technologies in the future. We may not be successful transitioning work to a vendor or a key vendor could become unable to continue to provide products or services, fail to meet service level standards, fail to protect our confidential, proprietary, and other information or deploy new technologies, such as artificial intelligence, in a manner that has an adverse impact on our operations. Additionally, if plans to restore and recover critical systems, data and operations along with vendor contingencies do not sufficiently address business interruptions, we may suffer operational impairments and financial losses.
Previous wording
We use technology, artificial intelligence and data to perform necessary business functions. There are threats that could impact our ability to protect our data and systems; if the threats materialize, they could impact:
Current wording
We use technology algorithms, machine based learning, artificial intelligence and data to perform necessary business functions. There are threats that could impact our ability to protect our data and systems; if the threats materialize, they could impact:
Previous wording
We collect, use, store or transmit a large amount of confidential, proprietary and other information (including personal information of customers, claimants or employees) in connection with the operation of our business. Systems are subject to increased cyberattacks and unauthorized access, such as physical and electronic break-ins or unauthorized tampering.
Current wording
We collect, use, store or transmit a large amount of confidential, proprietary and other information (including personal information of customers, claimants and employees) in connection with the operation of our business. Systems are subject to increased risk of cyberattacks and unauthorized access, such as physical and electronic break-ins or unauthorized tampering.
Showing the first 40 of 65 pairs. Open the source sections for the rest.
Rearranged current paragraphs (6)
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Regulatory requirements affect the amount of
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may materially adversely affect our operations or ability to write business profitably in one or more jurisdictions.
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The Allstate Corporation 25 size and underwriting practices in markets with significant severe weather and catastrophe risk exposure could adversely impact premium growth rates and retention.
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Market conditions impact the availability and cost of the reinsurance we purchase. Reinsurance may not remain continuously available to us to the same extent and on the same terms and rates as were historically available or is currently available. The ability to economically justify reinsurance to reduce catastrophe
Current report — wording carried from elsewhere
We continue to identify ways to improve operating efficiency and reduce cost, which may result in
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The Allstate Corporation 29 penalties for non-compliance based on consolidated enterprise revenue. We may incur substantial costs and other negative consequences if any of these risks occur, including an adverse effect on our business, results of operations and financial condition.
Rearranged previous paragraphs (9)
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•External factors such as inflation, court decisions, changes in law or litigation imposing unintended
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22 www.allstate.com insurance department. Certain states require an insurer to participate in guaranty funds for impaired or insolvent insurance companies. These funds periodically assess losses against all insurance companies doing business in the state. The results of operations and financial condition could be adversely affected by any of these factors.
Previous report — wording carried elsewhere
characteristics of existing assets and liabilities or assets expected to be purchased may not perform as intended or expected, resulting in higher than expected realized and unrealized losses.
Previous report — wording carried elsewhere
Growth and retention may be impacted if customer preferences change and we are unable to effectively adapt our business model, technology and processes, including maintaining competitive products
Previous report — wording carried elsewhere
The Allstate Corporation 25 subsidiaries to maintain insurance financial strength ratings. These restrictions and other regulatory requirements may affect the ability of subsidiaries to make dividend payments. Limits on the ability of the subsidiaries to pay dividends could adversely affect holding company liquidity, including the ability to pay dividends to shareholders, service debt or complete share repurchase programs as planned.
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operations along with vendor contingencies do not sufficiently address a vendor-related business interruption, we may suffer operational impairments and financial losses.
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Personal information is subject to an increasing number of federal, state, local and international laws and regulations regarding privacy and data security, as
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The Allstate Corporation 29 impact the business. In some cases, state insurance laws and regulations are generally intended to protect or benefit purchasers or users of insurance products, not holders of securities that we issue. These laws and regulations may limit the ability to grow or to improve the profitability of the business.
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in the law relating to the liability of insurers or tort defendants, plaintiffs targeting insurers in purported class action litigation relating to claims handling and other practices, and rulings concerning the availability or amount of certain types of damages could cause our ultimate liabilities to change from current expectations.