Business & Finance

Allstate Named as a 2017 World's Most Ethical Company by The Ethisphere Institute for The Third Time

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Scotch Plains-based agent Nelson Espeland. Credits: Photo provided by Allstate of Scotch Plains
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NORTHBROOK, Ill -- The Allstate Corporation has been recognized by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices, as a 2017 World's Most Ethical Company®. Allstate has been recognized three years in a row and is one of only two in the Property & Casualty Insurance industry underscoring their commitment to leading ethical business standards and practices.

"In the insurance industry we are known as the company who does it the right way. I am proud of that," said Scotch Plains-based Allstate agent Nelson Espeland. "It is great for Allstate to receive this award. It represents not just what you do, but how you do it. I think that says a lot."

This year is the 11th year that Ethisphere has honored those companies who recognize their role in society to influence and drive positive change, consider the impact of their actions on their employees, investors, customers and other key stakeholders and use their values and culture as an underpinning to the decisions they make every day.

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"Our dedication to doing the right thing has been at the core of Allstate throughout our history," said Kelly Noll, Allstate senior vice president, chief ethics, compliance and privacy officer. "This recognition by Ethisphere is a welcome validation of our company's commitment to highly ethical business standards, which guide us in making decisions and in all our actions."

"Over the last eleven years we have seen the shift in societal expectations, constant redefinition of laws and regulations and the geo-political climate. We have also seen how companies honored as the World's Most Ethical respond to these challenges. They invest in their local communities around the world, embrace strategies of diversity and inclusion, and focus on long term-ism as a sustainable business advantage," explained Ethisphere's CEO Timothy Erblich. "Congratulations to everyone at Allstate for being recognized as a World's Most Ethical Company."

The World's Most Ethical Company assessment is based upon the Ethisphere Institute's Ethics Quotient® (EQ) framework which offers a quantitative way to assess a company's performance in an objective, consistent and standardized way. The information collected provides a comprehensive sampling of definitive criteria of core competencies, rather than all aspects of corporate governance, risk, sustainability, compliance and ethics. Scores are generated in five key categories: ethics and compliance program (35%), corporate citizenship and responsibility (20%), culture of ethics (20%), governance (15%) and leadership, innovation and reputation (10%) and provided to all companies who participate in the process.

The full list of the 2017 World's Most Ethical Companies can be found here. Allstate is the nation's largest publicly held personal lines insurer, protecting approximately 16 million households from life's uncertainties through auto, home, life and other insurance offered through its Allstate, Esurance, Encompass and Answer Financial brand names. Now celebrating its 85th anniversary as an insurer, Allstate is widely known through the slogan "You're In Good Hands With Allstate®." Allstate agencies are in virtually every local community in America. In 2015, The Allstate Foundation, Allstate, its employees and agency owners gave $36 million to support local communities.

The Ethisphere® Institute is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust and business success. More information about Ethisphere can be found at: http://ethisphere.com.

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