Allstate Corporation announced a new employee‑benefit product that offers a first‑of‑its‑kind reimbursement of up to $50,000 for verified scam losses, including cryptocurrency theft. The coverage extends to nearly 7 million employees and their families, with household members such as seniors aged 65 and older included in the plan.
The launch follows Allstate’s strong Q3 2025 earnings, in which the company reported adjusted net income of $11.17 per diluted share—an increase driven by higher property‑liability results and a 34.7% return on equity. The new benefit aligns with Allstate’s strategy to expand its identity‑protection portfolio and capitalize on the growing cyber‑security market, which the FTC estimates lost $12.5 billion to fraud in 2024.
Allstate Scam Protection bundles web, e‑mail, and mobile protection with a dedicated scam‑takedown team and personal coaching. The program’s unique reimbursement feature distinguishes it from Allstate’s existing Identity Protection services, which focus on monitoring and remediation but do not provide direct financial compensation for losses.
The first‑of‑its‑kind claim stems from the product’s direct payout structure, a feature not offered by competitors’ cyber‑insurance or identity‑theft protection plans. By providing a capped reimbursement, Allstate offers a tangible financial safety net that complements its broader risk‑management services.
The product targets a large market of employees facing rising AI‑driven scams and cryptocurrency theft. Allstate plans to roll the benefit out during the annual open‑enrollment period, typically held in the first quarter of the year, giving employers a clear window to add the coverage to their benefit packages.
CEO Tom Wilson said the launch “demonstrates Allstate’s commitment to protecting the financial well‑being of workers in an era of sophisticated cyber‑crime.” The announcement followed a 1.7% rise in Allstate’s stock after its Q3 earnings, reflecting investor confidence in the company’s strong financial footing and its expansion into high‑growth cyber‑security services.
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