Allstate seeks to maintain an understanding of climate risks that directly affect both our insurance products and our assets. We continue to see sea levels rise and more frequent heavy precipitation events, flooding, droughts and wildfires. These events can affect the availability and affordability of insurance.
Consequently, Allstate continues to assess and refine its exposure management, pricing, modeling and underwriting practices concerning climate-related risks. Climate volatility also means Allstate must keep current with changes in climate policy, technology and physical risks. Our risk management approach considers the changing severity and frequency of weather-related natural catastrophes. As a leading insurer, we will continue to provide our industry expertise in formulating public policy solutions that both mitigate weather-related risks and reduce impacts on those most vulnerable. To learn more on Allstate’s approach to managing climate change, see our Climate Change Statement.